Philippines Posted P28.8-Billion Budget Surplus in 2017 Under Pres. Duterte


The Philippines posted a PHP28.8-billion budget surplus in August 2017 as revenue collections for the month grew higher than expenditures under the leadership of Pres. Rody Duterte who is now serving the country on his second year as chief executive.


The Bureau of the Treasury (BTr) released some data on Friday showing the expenditures in the eighth month this year reached P201.6 billion, up 14 percent from P177 billion a year-ago.

Philippine Revenues rose by 10 percent to P230.4 billion against year-ago's P209.6 billion according to the data from BTr.

The Bureua of Internal Revenue also collected around 70 percent of taxes, contributed P171.7 billion, 9 percent higher than the P157.5 billion collections same month last year.

The Bureau of Customs (BOC) shared in PHP38.3 billion, 16 percent higher than its PHP33.1 billion revenues in August 2016. As of August this year, the government’s budget deficit stood at PHP176.2 billion, 27 percent higher than the PHP138.4 billion same period last year.

The revenue of BIR reached P1.157 trillion, nine percent up from year-ago's P1.06 trillion, while the BOC contributed P283.6 billion, 11 percent higher that its P254.6 billion collections in end-August last year.

The Duterte administration also announced that the expenditures to date reached P1.777 trillion, 10 percent higher than the P1.619 trillion same period last year.

Source: PTVNews / PNA


Philippines Posted P28.8-Billion Budget Surplus in 2017 Under Pres. Duterte Philippines Posted P28.8-Billion Budget Surplus in 2017 Under Pres. Duterte Reviewed by Phil Newsome on 9/25/2017 Rating: 5

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