» » Philippines H1 Budget Deficit Exceeds Target

Philippines H1 Budget Deficit Exceeds Target

(RTTNews) – Philippines’ budget deficit for the first six months of the year exceeded the government’s target by more than a third, reports said on Wednesday citing the Department of Finance.

The country recorded a budget shortfall of PHP 196.7 billion in the first half of the year, considerably higher than the PHP 145.2 billion deficit targeted by the government. For June alone, a shortfall of PHP 34.6 billion was recorded.

Expenditures for the six-month period totaled PHP 788.8 billion, while revenues came in at PHP 592.1 billion. In June alone, the government spent PHP 126.7 billion versus PHP 92.1 billion in revenue.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2010 RTTNews.com, Inc. All Rights Reserved

Recent Articles By Economic News:

*/ ?>