Gov't reverts to P6.3 B budget surplus in Oct

The Marcos administration snapped six consecutive months of budget deficit after it recorded a surplus of P6.3 billion in October as revenue collections outpaced spending.

- By KEISHA TA-ASAN

Data from the Bureau of the Treasury showed that the government posted a higher budget surplus of P6.34 billion in October, a turnaround from the P34.4 billion shortfall recorded in the same period last year.

This is also the first time in six months that the government reverted back to a surplus after the P42.73 billion excess in April.

From January to October, the government incurred a budget deficit of P963.9 billion, 5.3 percent lower than the P1.02 trillion recorded in the same period last year.