Thursday, September 28, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Money

Government incurred P49.3-billion budget deficit in October

Julito G. RadabyJulito G. Rada
November 25, 2019, 8:35 pm
in Money
Reading Time: 1 min read
A A
Share on FacebookShare on TwitterShare on Email

The government incurred a budget deficit of P49.3 billion in October 2019, smaller by 17.7 percent than the shortfall in the same month last year as expenditures barely grew during the month.

Data from the Bureau of Treasury showed that revenue collection increased 6 percent in October to P261.6 billion, while expenditures rose 1.37 percent to P310.8 billion.

The budget deficit in the first 10 months also dropped 20.5 percent to P348.3 billion on sluggish government spending.

Total revenues improved 9.8 percent in the first 10 months to P2.35 trillion, while disbursements rose 5.05 percent to P2.93 trillion.

The Bureau of Internal Revenue raised P178.1 billion in October, up by 8.09 percent from last year’s outcome. The Bureau of Customs also grew its October collection by 3.04 percent to P57.7 billion.

The Bureau of the Treasury contributed P10.6 billion in October, up by 26.77 percent from P8.4 billion posted a year ago.

Debt interest payments reached P20.7 billion in October, down by 13.70 percent from a year ago.  Netting out interest payments from expenditures, the government posted a P28.5-billion primary deficit in October, resulting in a cumulative primary deficit of P33.8 billion, which was 76.33 percent lower than its level over the same period in 2018. 

ING Bank Manila senior economist Nicholas Mapa said the government was expected to boost spending in the remaining two months.

“We expect government spending to sustain the same strong pace to close out the year, which should translate into higher spending growth in both November and December given that government spending was in contraction by end 2018,” Mapa said. 

Tags: Bureau of CustomsBureau of Internal RevenueBureau of Treasury
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

Finastra, Tonik renew digital banking tie-up in the Philippines

byManila Standard Business
September 28, 2023, 11:25 am
0
8
Neobank Tonik says deposits surpass P5b

Finastra renewed its partnership to power Tonik’s end-to-end core banking capabilities with Finastra Essence in the Philippines. Under the new...

Read more

Deloitte acquires Philippines-based financial advisory firm Primeiro

byManila Standard Business
September 28, 2023, 9:59 am
0
8
Deloitte acquires Philippines-based financial advisory firm Primeiro

Global professional services group Deloitte acquired Philippines-based financial advisory firm Primeiro Partners (Primeiro) to establish and stamp its leadership in...

Read more

BPI eyes P5b from fixed-rate bond offering

byJulito G. Rada
September 26, 2023, 9:30 pm
0
8
BPI encourages SME clients to avail of 60-day reprieve

Bank of the Philippine Islands, the third-largest lender in terms of assets, said Tuesday it will offer peso-denominated fixed-rate bonds...

Read more

BPI to issue P5 billion worth of bonds

byJulito G. Rada
September 26, 2023, 1:26 pm
0
8
BPI’s income increased 1.8% to P17.5b in 1st three quarters

Bank of the Philippine Islands, the third-largest lender in terms of assets, said Tuesday it will offer peso-denominated fixed-rate bonds...

Read more

Security Bank attains ISO/IEC 27001:2022 certification

byManila Standard Business
September 25, 2023, 7:25 pm
0
8
Security Bank attains ISO/IEC 27001:2022 certification

Security Bank Corp. received ISO/IEC 27001:2022 certification by The British Standards Institution (BSI) at an awarding ceremony at Security Bank...

Read more

Metrobank recognized strongest bank for 3rd time

byManila Standard
September 24, 2023, 9:45 pm
0
8
Metrobank posted 46% profit growth in 1st nine months

Metropolitan Bank & Trust Co. (Metrobank) becomes the first Philippine financial institution to claim the “Strongest Bank” title from The...

Read more

Print Edition

View More

Recent Posts

  • PSA deploys ‘PhilSys on Wheels’ to remote areas
  • PPP Code nears enactment
  • Finastra, Tonik renew digital banking tie-up in the Philippines
  • DBM welcomes speedy House approval of 2024 budget
  • Trump’s business empire threatened by judge’s ruling
  • Talk shows coming back after Hollywood writers’ strike ends
  • Deloitte acquires Philippines-based financial advisory firm Primeiro
  • Meta putting AI in smart glasses, assistants and more

Advertisement

Latest News

Talk shows coming back after Hollywood writers’ strike ends

byAFP
September 28, 2023, 10:00 am
0
8
Striking actors join picket lines as Hollywood shuts down

Late-night talk shows, a mainstay of the US TV schedule, will be back on the air within a week, hosts...

Read more

Deloitte acquires Philippines-based financial advisory firm Primeiro

byManila Standard Business
September 28, 2023, 9:59 am
0
8
Deloitte acquires Philippines-based financial advisory firm Primeiro

Global professional services group Deloitte acquired Philippines-based financial advisory firm Primeiro Partners (Primeiro) to establish and stamp its leadership in...

Read more

Meta putting AI in smart glasses, assistants and more

byAFP
September 28, 2023, 9:00 am
0
8
Meta putting AI in smart glasses, assistants and more

Meta chief Mark Zuckerberg on Wednesday said the tech giant is putting artificial intelligence into digital assistants and smart glasses...

Read more

NKorea makes nuclear weapons status part of constitution

byAFP
September 28, 2023, 8:00 am
0
8
NKorea makes nuclear weapons status part of constitution

North Korea's rubber-stamp legislature has enshrined the country's status as a nuclear weapons power in the constitution, state media reported...

Read more

‘PH shuns war, but will fight for territory’

byMacon Ramos-Aranetaand2 others
September 28, 2023, 12:50 am
0
8
Marcos signs ‘Trabaho’ Act into law to craft job generation masterplan

“We do not want war, but it’s our territory that they want to get.” With these words, Defense Secretary Gilbert...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App