THE NATIONAL Government’s (NG) budget deficit widened in May as spending growth outpaced revenues, the Bureau of the Treasury (BTr) said.
The NG’s budget gap ballooned by 43.1% to P174.9 billion in May from P122.2 billion in the same month a year ago.
Month on month, this was a reversal of the P42.728-billion surplus in April.
“The higher deficit resulted from an acceleration in government spending, pushing disbursement growth for the month to 22.24%, as against revenue expansion of 14.59%,” the BTr said.
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