Budget deficit widens to P242 B in June

The government recorded a wider budget deficit of nearly P242 billion in June, as spending rose faster than revenue collections, reflecting increased public disbursement amid slower earnings growth.

- By MARCO LUIS BEECH and KEISHA TA-ASAN

Data from the Bureau of the Treasury (BTr) showed that the Marcos administration recorded a budget shortfall of P241.6 billion last month, almost 16 percent wider than the P209.1 billion seen a year ago. It was also 67 percent higher than the P145.1 billion gap recorded in May.

A budget deficit means that the government is spending beyond what it earned from revenue collections, although at a slower pace this time around.

For the six-month period, the budget deficit rose by 25 percent to P765.5 billion from the P613.9 billion last year as spending outpaced revenue growth from January to June.