Jan.-Sept. budget deficit narrows by 1.35%
The national government’s budget deficit narrowed from January to September this year, data from the Bureau of the Treasury (BTr) showed. In its latest cash operations report released on Thursday, the BTr said the budget deficit during the period went down by 1.35 percent to PHP970.2 billion from the PHP983.5 billion logged in January to September last year. The government incurs a budget deficit when spending exceeds its revenues. “The total deficit for the first three quarters was 9.08 percent short of the PHP1.1 trillion program for the nine-month period and is at 65.36 percent of the PHP1.5 trillion revised