Budget deficit increased to PHP 28.62bn in March.

By bne IntelliNews April 26, 2012
Philippines' budget deficit increased to PHP 28.62bn in March this year, as public spending augmented, spurring economic activity. As reported by Dow Jones International News, the country's expenditure grew 15% y/y recording PHP 144.05bn during the period, as compared to PHP 125.28bn registered during the same period last year. The revenues grew 7.7% y/y posting PHP 115.43bn during the period, as compared to PHP 107.15bn registered during the same period last year.

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