PH Gov’t Posts Budget Surplus in January

National Treasurer Rosalia De Leon attributed the government’s budget surplus in January 2019 to a slowdown in spending due to the fact that it is operating on a reenacted budget.

Data released by the Bureau of the Treasury (BTr) Monday showed a budget surplus of PHP44.5 billion, 337 percent higher than the PHP10.2 billion during the same period last year.

This transpired after revenues reached PHP256.7 billion, higher than the PHP212.2 billion spending for the month.

Total revenues in the first month this year is up by seven percent compared to the PHP238.9 billion in January 2018 while expenditures declined by seven percent against year-ago’s PHP228.7 billion.

The Bureau of Internal Revenue (BIR) collected PHP185.1 billion, five percent higher than its PHP175.6 billion revenues in January last year.

Collections by the Bureau of Customs (BOC) amounted to PHP48.4 billion, 18 percent higher than the PHP40.8 billion same period last year.

Revenues by the BTr reached PHP9 billion, 12 percent up than the PHP8.1 billion a year ago, and the Other Offices, PHP12.8 billion or almost unchanged from the PHP 12.7 billion in January last year.

“Really, there’s a significant impact of the reenactment of the budget on spending particularly on the new expenditures and the capital outlays including of course the salary adjustments,” De Leon said.

Congress has yet to submit to Malacanang the enrolled copy of the 2019 national budget on allegations that adjustments were made to the Bicameral Conference Committee approved-budget. (PNA)