The Marcos administration’s budget deficit widened by 9.4 percent to P264.3 billion in June as government spending outpaced revenue collections, according to the Bureau of the Treasury (BTr).
Latest data showed expenditures rose 5.5 percent to P578.7 billion, driven by higher National Tax Allotment shares for local government units, increased subsidies to state-run firms, and payments to suppliers and contractors for transportation infrastructure projects.
This outpaced the 2.46-percent increase in revenues, which reached P314.5 billion in June. Of the total, tax collections contributed P299.3 billion, while non-tax revenues amounted to P15.1 billion.
In the first half of the year, the fiscal deficit widened by 2.79 percent to P786.8 billion. This was 0.17 percent below the government’s P788.2-billion deficit program for the period.