Gov’t budget gap widened in June but still within 2026 target

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MANILA, Philippines — The national government’s budget deficit widened in June as spending growth outpaced revenue collections, although fiscal performance remained broadly on track to meet the full-year target, according to the Bureau of the Treasury.

Latest data showed the fiscal shortfall expanded by 9.4 percent year-on-year to P264.3 billion in June from P241.6 billion in the same month last year.

READ: Gov’t logs wider P198.5B budget deficit in May

This brought the first-half deficit to P786.8 billion, slightly below the government’s P788.2-billion program for the period by 0.17 percent. The six-month deficit accounted for 47.5 percent of the full-year ceiling of P1.658 trillion.