towards Aubrey Rose A. Inosana, Reporting
National Government (Ng) Funds of an elephanta scholarTion swore a surplus in October as revenues and expenses fell amid a recession, the Bureau of Treasure (BTR) said on Wednesday.
Data from the Treasury shows a massive P11.Billion in October.
This was the first budget deficit since the P67.3-billion surplus in April.
In October, government expenditures fell by 7.76% to P430.6 billion from P466.8 billion in the same month last year.
October marked the third straight month in which spending fell on an annual basis, as the delivery of public works projects was tightened amid growing uncertainty.
Core spending – which refers to total spending minus interest payments – fell 9.29% to P373.2 billion in October from P411.4 billion a year earlier.
Interest payments increased by 3.57% to P57.4 billion in October this year from P55.4 billion in one month in 2024.
At the same time, revenue decreased by 6.64% to P441.7 billion in October from P473.1 billion in the same month last year.
Tax revenue increased by 0.09% to P414.5 billion in October from P414.9 billion in the same month in 2024.
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This includes tax refunds of P211 billion, which led to huge collections in Bir. In thousands of P329.1.
“This strong performance was driven by collections from corporation tax, income tax, value added tax, percentage tax on banks/financial institutions, and excise tax on tobacco products,” BTR said.
Bureau of Customs (BOC) Revenue fell by 4.52% to P83 billion in October from P86.9 billion a year ago, as the existing rice import ban began in September.
Nontax revenue increased by 53.29% to P27.2 billion in October from P58.3 billion in the same month in 2024.
BTR’s revenue fell by 13.82% to P12.5 billion in October, while anotherefaccounts slid by 66.39% to P14.7 billion.
Reinilielle Matt M. Erece, Economist Advisory and Research, Inc., said on the Viber message that the highest in October is caused by the sharp use of government spending.
“As the issue of public spending became a hot topic, the government was very careful to avoid going back, so the spending went down a lot,” he said.
However, he noted that revenue declined due to slow economic activity and less tax collection.
RIMAL Commerce Banking Corp. Economist Michael L. Ricafufort assigned Busful Busplus to the government’s construction of the undermining of anti-corruption measures.
A wider everplus can also indicate more spending, said Mr Ricafort in a Viber message.
Mr. Erece also noted that the rest is not a good sign and can signal a poor EFef“
“Less means there is still money or resources that can be used to drive growth,” he said.
10 month deficit
In the first 10 months, the NG budget means that it has widened to P1.11 trillion from the P963.9-billion Gap in the same period last year.
“The 10-month debt gap was filled by a 1.13% growth in revenue, amid the non-response of claims receipts last year Nontax, matched by a modest increase in expenditure,” said BTR.
The Treasury’s End-October FICAL GAP showed “the government’s continued use of the most important programs and projects to accelerate inclusive economic growth and meaningful social change.”
“The deficit of the year is always in line with the goal of combining the money of the Government by 70.83% of FY 2025 with a new target of 20.56 trillion,” said Bthr.
Government spending rose by 3.9% to P4.91 trillion in the January-to-October period. This was already 80.8% of the P6.08-Trillion Revival plan for millennials.
Principal expenses increased by 2.45% to P4.19 Trillion from end-October, while interest payments increased by 13.24% to P723.2 billion.
“The slight increase in basic spending was affected by spending on infrastructure spending amid ongoing work on DPWh flood control issues and project implementation reviews,” it said.
Meanwhile, the total amount of money collected during the January-to-October period decreased by 1.13% to P3.81 trillion. BTR said the combined collection was 84.25% of this year’s P4.52-Trillion Reving Offloppy Offled program.
Tax revenue increased by 7.45% to P3.47 Trillion, which was already 82.28% of the P4.21-Trillion target.
BIR collections increased by 7.45% to P3.47 Trillion, accounting for 82.35% of the P3.22-Trillion target for the Year.
The cultural collection increased by 0.91% to P784.6 billion as of end-October. This was 81.84% of the revised P958.7-billion plan for the year.
Nontax revenue increased by 36.71% to P341.3 billion in the first ten months of the year, just as it passed P301.5 billion in full-FREE OPENING PROGRAM with 11.37%.
Net income rose 6.75% to P209.6 billion from end-October, while some ofefRevenue decreased by 58.12% to P131.7 billion.
In the coming months, Mr. Ricafort said there is still a “good chance” that the NG could hit the P1.56-Trillion Deficit budget ceiling due to the Iarpend deficit.
“(This) can be done through many ways of reforming money, ways of tax refunds, especially anti-corruption measures / reforms to increase the deception of the national government side and be part of the funds used abroad for governance reforms,” he said.
