Gov’t budget surplus shrank to P31.4B in April

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MANILA, Philippines – The national government reverted to a budget surplus in April, although the figure was sharply lower than a year ago as expenditures rose faster than revenues amid the extension of the annual income tax filing deadline.

Data released on Tuesday by the Bureau of the Treasury (BTr) showed a budget surplus of P31.4 billion in April, down 53.29 percent from the P67.3 billion recorded in the same month last year.

April’s budget position reversed the P349.7-billion deficit posted in March.

READ: Philippine budget surplus soars to P165.4B in January on slower spending