Budget deficit widens in October as spending outpaces revenue growth

ABS-CBN News

Posted at Nov 26 2018 03:30 PM

MANILA - The Philippines' budget deficit further widened in October as government spending outpaced growth in revenues, the Bureau of Treasury said Monday.

The government posted a budget shortfall of P59.9 billion for the month as spending grew 35 percent while revenues grew 20 percent, the Treasury said.

The January to October deficit widened to P438.1 billion, 87 percent higher compared to the same period in 2017, it said.