The government posted a P46.3-billion surplus in April on strong revenue collection despite the 43-percent surge in government spending.
Data from the Bureau of the Treasury showed that the April surplus was lower compared to the P52.8-billion surplus a year ago.
This resulted in a fiscal deficit of P105.9 billion in the first four months, higher than the P30.2 billion-shortfall registered a year ago.
The Treasury said revenue collection climbed 30 percent in April to P307.6 billion from a year earlier. “Tax collection continues to surge as collecting agencies recorded double-digit growth for the fourth month in a row, allowing the January to April level of P927.4 billion to grow 21 percent,” the Treasury said.
The Bureau of Internal Revenue collected P232.6 billion in April, or 24 percent better than last year’s level. This resulted in a P655.7-billion collection in January to April, up 17 percent from the same period in 2017.
Customs’ collection jumped 50 percent in April to P46.8 billion, the highest since the start of the Duterte administration.
Government spending surged 43 percent in April to P261.2 billion. Expenditures in the first four months also went up 31 percent to P1.043 trillion.