6-month budget deficit swells to P560B
The national government’s budget deficit swelled by 1,214 percent to P560.4 billion during the first six months of 2020 as COVID-19-related expenditures jacked up public spending. This was despite the…
First-half budget deficit swelled as COVID-19 dole outs hiked gov’t spending
MANILA, Philippines — The national government’s budget deficit swelled by 1,214 percent to P560.4 billion during the first half as COVID-19-related expenditures jacked up public spending, and even as the…
COVID-19 spending swelled end-May budget deficit to P562.2 billion
MANILA, Philippines — The national government’s budget gap swung to a deficit of P202.1 billion in May as spending for COVID-19 response exceeded still weak tax collection amid the pandemic.…
Raising COVID-19 funds: PH can afford deficit up to only 9 percent of GDP
Despite more funds needed to continue responding to the COVID-19 crisis, the Philippines can afford to widen its budget deficit to only up to 9 percent of gross domestic product…
COVID-19 spending plus low collection equals 10,000 percent deficit jump since 2019
Spending on public goods and services more than doubled in April as the government tried to ease the pain inflicted on vulnerable sectors by the COVID-19 pandemic but with barely…
COVID-19 impact: ECQ limits gov’t spending, narrows first quarter budget deficit to P74B
The budget deficit narrowed to P74 billion at the end of the first quarter, partly as the national government spent less than the three-month expenditures program due to the COVID-19…
Dominguez sees P1 trillion deficit as expenses for COVID-19 pile up
As spending for COVID-19 response pile up while revenue collection slows down during the pandemic, Finance Secretary Carlos G. Dominguez III on Wednesday (May 6) said that 2020’s budget deficit…
Budget deficit narrowed to P37.6 billion in February
The national government’s budget deficit narrowed to P37.6 billion in February as spending contracted year-on-year due to the seasonality of disbursement of local governments’ internal revenue allotment (IRA). February’s deficit…