MANILA – The Philippine national government ran a P45.7-billion budget surplus in January, reversing the P23.4-billion deficit recorded in the same month a year ago, according to Finance Secretary Benjamin Diokno.
Citing data at the Bureau of the Treasury, Diokno said the favorable outcome was a result of revenues outgrowing government spending.
Revenues for the month grew by 25 percent to P305.4 billion. At the same time, spending barely increased by 0.3 percent to P302.4 billion
“Net of interest payments, the NG’s primary surplus for January was P92.7 billion, (which was) more than double the P42.2 billion primary surplus posted in the same month last year,” Diokno said.
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