An economist warns the 'steady' increase in both government expenditures and collections may help the country's gross domestic product, but a widening deficit implies a continued rise in overall debt
The government's fiscal deficit from January to September widened annually, but data from the Treasury bureau show it's still below the government's program.
The bureau mainly cited"lower-than-programmed interest payments" for the outturn. Interest payments stood at ₱4.5 billion in September, a 10.36% climb amid coupon payments and discounts for fixed-rate treasury bonds. These payments amounted to P339.3 billion, 17.82% less than the ₱412.9-billion program.
The Bureau of Customs, meanwhile, hauled ₱57.6 billion during the month. This brought overall collections from January to September to ₱469.8 billion, also higher than its revenues in 2020 and cumulative ₱455.6-billion program.
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