Budget gap widens sharply in March

By Luisa Maria Jacinta C. Jocson, Senior Reporter

THE NATIONAL Government’s (NG) budget deficit ballooned in March as revenues slipped and state spending jumped ahead of the election ban, the Bureau of the Treasury (BTr) said.

Data from the BTr showed the fiscal gap widened by 91.78% to P375.7 billion in March from P195.9 billion in the same month a year ago.

Government spending surged by 35.37% to P655 billion in March from P483.8 billion a year prior.