Philippines posts April budget surplus of US$1.2 billion

MANILA (Philippine Daily Inquirer/Asia News Network): The Philippine government posted a budget surplus of 66.8 billion Philippine pesos (US$1.21 billion) in April, versus a surplus of 4.9 billion pesos in the same month last year, the Bureau of the Treasury said in a statement on Monday (May 29).

The bureau said the latest monthly readout helped narrow the January-April deficit by 35 per cent to P204.1 billon from P311.9 billion.

April expenses grew by 9 per cent to P373.9 billion while four-month disbursements grew slightly by 1.2 per cent to P1.5 trillion.

Meanwhile, revenues for the month surged by 27 per cent to P440.7 billion while four-month receipts jumped by 11 per cent to P1.3 trillion.