THE GOVERNMENT saw its fiscal deficit grow nearly four times as much in the January-April period, but is still lower than what the government expected, as state coffers exceeded their targets and expenditures continued to increase at a rapid rate.
Citing data from National Treasurer Rosalia V. De Leon, Finance Secretary Carlos G. Dominguez III said that the government’s fiscal position saw a deficit of P115.9 billion in the first four months of the year, 284% wider than the P30.18 billion posted in the same period in 2017.
However, he said that it is “P51.2 billion less than program.”
Mr. Dominguez said that overall “[year-on-year] revenues grew by 21%.”
“Jan to April revenues higher than program by 7% or by P21.4 billion, he said, noting that the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) exceeded their goals by P19.4 billion and P2 billion, respectively.
The Finance chief said that the BIR collections grew 17.49% to P655.67 billion in the January-April period from last year’s P558.07 billion.
The BoC meanwhile raked in 30.53% more to P176.57 billion from P135.27 billion a year ago.
Meanwhile, “disbursements increased by 31% to P1.04 trillion,” in the first four months of the year from the P798.44 billion recorded in the same months of 2017. — Elijah Joseph C. Tubayan

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