MANILA – The Philippine government posted a P28.8-billion budget surplus in August 2017 as revenue collections for the month grew higher than expenditures.
Data released by the Bureau of the Treasury (BTr) on Friday showed that expenditures last month reached P201.6 billion, up 14 percent from P177 billion a year-ago.
Revenues rose by 10 percent to P230.4 billion against year-ago’s P209.6 billion.
The Bureau of Internal Revenue (BIR), which collects around 70 percent of taxes, contributed P171.7 billion, nine percent higher than P157.5 billion collections same month last year.
The Bureau of Customs (BOC) pitched in P38.3 billion, 16 percent higher than its P33.1 billion revenues in August 2016.
As of August this year, the government’s budget deficit stood at P176.2 billion, 27 percent higher than the P138.4 billion in the same period last year.
BIR revenues reached P1.157 trillion, nine percent up from year-ago’s P1.06 trillion.
BOC contributed P283.6 billion, 11 percent higher than its P254.6 billion collections in end-August last year.
Expenditures to date reached P1.777 trillion, 10 percent higher than the P1.619 trillion in the same period last year.