End-October budget shortfall widens 87% to P438.1B

CLARK -- As the jump in government spending outpaced the increase in revenues it collected during the first 10 months, the budget deficit widened by 87 percent to P438.1 billion. During the Sulong Pilipinas 2018-Philippine Development Forum, Budget Secretary Benjamin E. Diokno and Finance Secretary Carlos G. Dominguez III both said the robust expenditures on public goods and services were proof the Duterte administration already addressed the problem of under-spending. The latest Bureau of the Treasury data released Monday showed the end-October fiscal deficit increased from P234.9 billion in the same 10-month period last year. In a statement, the Treasury noted the deficit as o...

Keep on reading: End-October budget shortfall widens 87% to P438.1B

from INQUIRER.net https://ift.tt/2KBsihq