The Philippine government’s fiscal balance stood at a slimmer deficit as of the first half of 2023 as state collections surpassed tepid spending during the period, data released by the Bureau of the Treasury (BTr) on Friday showed
The Philippine government’s fiscal balance stood at a slimmer deficit as of the first half of 2023 as state collections surpassed tepid spending during the period, data released by the Bureau of the Treasury on Friday showed.
Broken down, the Bureau of Internal Revenue collected P1.22 trillion, up 7,65% from P1.132 trillion in the same period last year. Collections from other offices or other non-tax revenues, including privatization proceeds and fees and charges, stood at P110.2 billion, up 34.26% from P82 billion recorded in the January to June 2022 period.Government spending saw a 0.42% reduction to P2.41 trillion from P2.40 trillion last year.
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