Gov't revenue collection grows to P2.13 T in H1

The government has collected P2.13 trillion in revenues as of the first half of the year, allowing it to be on track to hitting its collection goal for 2024 amid digitization efforts and plugging of tax leakages.

- LOUISE MAUREEN SIMEON

During the Economic Journalists Association of the Philippines-San Miguel Corp. economic forum on Monday, Finance Secretary Ralph Recto said preliminary data showed that collections from January to June reached P2.13 trillion.

This is almost 15 percent higher than the P1.86 trillion in revenues in the same period last year.

“This is more or less half of what we intend to collect for the entire year. So we seem to be on track,” Recto said.

“We hope that continues and that we are able to sustainably collect all these revenues for the entire year,” he added.

Based on the approved Cabinetlevel Development Budget Coordination Committee fiscal program, total revenues should reach P4.27 trillion.