2021 budget gap widens to P1.67T

By Mayvelin U. Caraballo

Mar 02, 2022 12:32 am

THE government's budget deficit widened to P1.67 trillion in full-year 2021, corresponding to 8.61 percent of the country's overall economy, the Bureau of the Treasury (BTr) reported on Tuesday.

Full-year fiscal shortfall was 21.78 percent greater than the previous year, or P298.7 billion, due to a 10.6-percent increase in expenditures versus a 5.24-percent growth in government revenue.

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