MANILA, Philippines — The government’s budget deficit swelled by 56 percent from a year earlier in August, reaching ₱84.8 billion. This increase was driven primarily by a drop in revenues.
Data from the Bureau of the Treasury showed that revenues had contracted by nearly 9 percent, amounting to ₱352 billion.
READ: S&P trims Philippines’ growth outlook on trade risks
Meanwhile, expenditures…
https://business.inquirer.net/548800/govt-budget-deficit-widens-by-56-in-august-on-revenue-slump
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