Govt budget deficit exceeds 2023 target

Mar 01, 2024 12:29 am

THE government incurred a budget deficit of P1.512 trillion last year, the Bureau of the Treasury reported on Thursday, exceeding the targeted P1.499 trillion even as revenue growth outpaced spending.

The result was also equivalent to 6.2 percent of gross domestic product (GDP), just over the programmed 6.1 percent. It was still lower than 7.3 percent recorded in 2022 when the shortfall was higher at P1.614 trillion.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Plate bloomer

PH-UAE ties to bring more opportunities

AI to drive economic growth – NEDA

US Fed rate cuts 'may be on pause'

Accenture scraps DEI goals

Developing the right mindset for saving

Factory output growth markedly slower in 2024