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Philippines' August budget deficit widens as revenues slip
Business World Philippines
|September 25, 2025
THE PHILIPPINES’ budget deficit widened in August as revenues fell faster than spending, adding pressure on the government to borrow more and keep within its deficit ceiling.
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The gap ballooned 56% to P84.8 billion ($1.5 billion) from a year earlier, according to data released by the Bureau of the Treasury on Wednesday. Compared with July, the shortfall surged more than fourfold from P18.9 billion.
Collections fell 8.8% to P352.5 billion, dragged by a steep decline in nontax revenues, which slid nearly 68% to P21.3 billion. Treasury income dropped 53%, while remittances from other offices tumbled 73%.
Tax revenues, however, inched up 3.4% to P331.2 billion. Bureau of Internal Revenue collections rose 5% to P250.1 billion, offsetting weaker Bureau of Customs receipts, which slipped 1.4% to P77.4 billion.
This story is from the September 25, 2025 edition of Business World Philippines.
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