Bureau of the Treasury releases August fiscal data showing PHP161.3 billion deficit
Published · Updated
What happened
The Bureau of the Treasury published August fiscal results showing a PHP161.3 billion budget deficit for the month and a cumulative January-to-August deficit of PHP1.05 trillion. Treasury said spending rose in part because of PhilHealth arrears payments, while non-tax revenues were lower.
Why it matters
Monthly fiscal data changes the information set for near-term borrowing, cash programming, and spending releases. Because the cumulative deficit remains within the full-year program, the release may support continued execution of programmed spending while keeping pressure on revenue and financing managers to hold the year-end path.
The Bureau of the Treasury said on September 24 that the national government's budget deficit widened to PHP161.3 billion in August. Treasury attributed the result mainly to higher spending, including settlement of PhilHealth arrears, alongside lower non-tax revenues. It also said the January-to-August deficit reached PHP1.05 trillion but remained within the government's full-year program, giving the finance team a fresh read on borrowing and cash-management room heading into the last quarter.
Watch for
Bureau of the Treasury release of September fiscal data showing projected deficit figures by October 10 PhilHealth statement on arrears payment schedule by October 9 Market reaction to September fiscal data reflected in bond yields by October 11 No confirmed announcements on new tax measures by October 10
Sources
- Peso weakness drives PH debt to record P19.61 trillion · gmanetwork.com
- Gov’t budget deficit widens to P161.3-B in Aug · pna.gov.ph
- INQUIRER.net | Philippine news for Filipinos · business.inquirer.net
- Government debt piles up to P19.6 trillion in August · philstar.com
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