Budget impasse tagged as govt posts Jan surplus

Mar 19, 2019 12:20 am

THE government incurred a budget surplus in January as state spending contracted because of Congress’ inability to pass the 2019 outlay, the Bureau of the Treasury said on Monday.

The month’s P44.5-billion surplus was a reversal of the P81.042-billion deficit posted in December and was also higher than the P10.2-billion surplus recorded a year earlier.

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