Wednesday 19 June
Aug 22, 2018 @ 17:38

Gov’t goes on spending spree as budget releases up by 34% in July

 

It looks like the state’s build and spend mantra is on track.

The Duterte administration looks on track to killing underspending, as state expenditures regained momentum early into the third quarter.

Treasury data showed that government spending surged by 34 percent in July to P328.1 billion coming from P245.1 billion during the same period in 2017.

Actual spending grew by a whopping 41 percent to P283.3 billion, while interest payments steadied at P44.8 billion.

This brought the year-to-date spending tally to P1.932 trillion, 23 percent higher from the comparable seven-month period last year.

This also drove the budget deficit wider to P279.4 billion compared to P205 billion as of end-July 2017.

Please follow and like us:
error

Tags: , ,

Related Stories
President Donald Trump has repeatedly boasted that the tariffs he has imposed on trading partners
The Clark International Airport Corp. (CIAC) assured the consortium led by Filinvest Development Corp. and
British billionaire Richard Branson plans to travel to space within the next four or five
Nine Japanese companies, including drugmakers and a newspaper, have received blackmail letters containing white powder


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.