Gov’t’s budget surplus grows to P11 B in Oct

Amid the national government’s tamed spending, the Marcos administration posted a budget surplus of over P11 billion in October, primarily fueled by a larger decline in expenditure than revenues, according to the latest data from the Bureau of the Treasury (BTr).

- By MARCO LUIS BEECH

The BTr’s cash operations report showed a budget excess of P11.2 billion in October, which is nearly 76 percent higher than the P6.3 billion surplus posted in the same month last year

Month-on-month, the latest figure is a huge turnaround from the P248-billion deficit in September.

A budget surplus occurs when revenue collections exceed government expenditures, meaning the state generated more money for the period than what it spent.

Despite a decline in government expenditure, a slowdown in the administration’s revenue collection continued to persist.