Budget balance back in deficit in May

By Mayvelin U. Caraballo

Jun 24, 2022 12:21 am

THE government's budget balance returned to a deficit in May even as revenues continued to outpace expenditures, the Bureau of the Treasury reported on Thursday.

The government had recorded a P4.9-billion surplus in April, which the Treasury then attributed to 'faster year-on-year' revenue growth and a 'marginal' increase in spending.

Bureau of the Treasury

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