By Beatriz Marie D. Cruz, Reporter
THE NATIONAL Government’s (NG) budget deficit widened in the first seven months of the year as spending growth outpaced revenues, the Department of Finance (DoF) said.
Finance Secretary Ralph G. Recto told the Senate Finance Committee that the budget gap ballooned by 7.2% to P642.8 billion as of end-July from P599.5 billion in the same period a year ago.
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