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PIA Press Release
2007/09/19

Gov't posts P13.9B surplus for August

Manila (19 September) -- The target line in raising revenue to solve the budget deficit for 2008 is now getting closer with the Arroyo government reporting about P13.9 billion in surplus for the month of August this year.

Palace officials attribute the second surplus in a row to the improved collection by the Bureau of Internal Revenue (BIR) and the Bureau of Customs.

In a statement, Finance Secretary Margarito Teves expressed confidence that the budget deficit would come in within the targeted P63 billion for the year and attain a balanced budget by 2008.

The following tabulates government expenditures vis a vis the budget surplus.

ItemsAugust 2007Jan-Aug 2007
(In Billion Pesos)
Budget Balance+13.9-25.5
Revenues117.1731.4
  • Internal Revenue
  • 79.6473.0
  • Customs
  • 20.9133.9
  • Treasury
  • 948.6
  • Other Offices
  • 7.675.9
    Expenditures103.2756.9

    (PIA-MMIO) [top]

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