FISCAL expenditures of the government dropped 6 percent in the first nine months of the year to P2.014 trillion from a programmed P2.137 trillion for the period, latest data from the Bureau of the Treasury on Tuesday show. Disbursements in September declined 7 percent to P237 billion from a programmed P255.6 billion for the month and 2 percent lower than the same month last year. The government posted a P36.9-billion fiscal deficit in September, 51 percent or P38.4 billion lower than the gap registered last year. This resulted in a third quarter fiscal deficit of P58.6 billion, lower than P93.4 billion recorded in the same quarter last year. Total revenues for the month amounted to P200.1 billion, up 21 percent or P34.1 billion year-on-year.

Source: The Standard October 24, 2017 12:56 UTC