THE NATIONAL Government’s (NG) budget gap sharply narrowed in August as a double-digit jump in revenues offset a surprising dip in spending, the Bureau of the Treasury (BTr) said on Wednesday.
Treasury data showed the budget deficit shrank by 59.24% to P54.2 billion from the P133-billion gap a year ago.
“The lower deficit was brought about by the 24.4% growth in government receipts alongside a minimal 0.68% contraction in government expenditures,” the Treasury said in a statement.
Month on month, the budget shortfall widened by 87.93% from P28.85 billion in July.
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