MANILA-The National Government (NG) posted a P21.9 billion fiscal surplus in August to bring the 2013 total deficit to P 82.6 billion. The fiscal surplus for the month was 8% above the P20.3 billion target for August and more than eight times the surplus of P2.5 billion achieved in August 2012. BIR, BOC, and the BTr all achieved double-digit growth for the month of August compared to the previous year. Secretary of Finance Cesar Purisima noted that the August surplus was achieved despite nearly on-target spending, signaling the government’s success at sustaining fiscal strength. “The above-target surplus is highly encouraging given that the government came very close to hitting its spending target in August. As other economies in Asia are resorting to aggressive revenue measures, we have proven that good governance has had a dramatic effect in restoring stability to the coffers of the government,” Purisima said. - Read more at: manilachannel/general-news/budget-surplus-august-2013-p21-9b/#sthash.o4WQBks0.dpuf
Posted on: Wed, 09 Oct 2013 02:01:10 +0000
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