The budget deficit almost doubled to P477.2 billion at end-November as the growth in government spending on public goods and services, especially infrastructure, outpaced revenue collections during the first 11 months. The latest Bureau of Treasury data released Thursday showed that the 11-month deficit ran by the national government was 96-percent wider than the P243.5 billion posted a year ago. In a statement, the Treasury noted that the fiscal deficit as of November already accounted for 91 percent of the 2018 program worth P523.7 billion, a cap equivalent to 3 percent of gross domestic product (GDP). The Duterte administration had programmed yearly budget deficit c...
Keep on reading: ‘Build, Build, Build’ widened budget deficit by 96% to P477.2B at end-November
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