Record budget surplus in April

By Paolo G. Montecillo

Philippine Daily Inquirer

4:36 pm | Wednesday, June 4th, 2014

FILE PHOTO

MANILA, Philippines — The Philippines posted a record-high budget surplus in April as revenues rose and spending slumped over year-ago levels, data released Wednesday showed.

April’s budget surplus, which meant the state collected more than it spent, reached P80.9 billion, nearly wiping out the deficit since the start of the year. The surplus was more than double the April 2013 level of P36.8 billion, data from the Department of Finance showed.

For the four months to April, the government’s budget shortfall stood at P3.3 billion.

Government disbursements for April were down 6 percent, the first contraction in spending since December of last year. Year-to-date expenditures were up 7 percent.

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