Budget surplus at P67 B in April

The recent tax season and the government's lower spending pushed the country to a budget surplus of P67 billion in April, the Bureau of the Treasury said.

- By LOUISE MAUREEN SIMEON

Data from the Treasury showed that the government posted a higher budget surplus of P67.3 billion in April, 57.5 percent above the P42.7 billion recorded in the same month last year.

This is the second time this year that the government posted a surplus after the P68.36 billion recorded in January.

The month of April is typically an excess amid the tax season following the annual income tax return filing.

A budget surplus means that the government earned more than what it spent during a given time. The extra money can either be used to pay off debts or be invested in other programs.

For the four-month period, however, the government incurred a higher budget deficit of P411.5 billion, surging by almost 80 percent from the P229.9 billion in the same period last year.