The national government slightly underspent in the first nine months of the year, as expenditures fell below program by 5.22 percent, data released by the Bureau of the Treasury (BTr) showed.
According to the latest cash operations report, the national government incurred a deficit of P1.14 trillion, 20.11 percent below the ceiling of P1.43 trillion for the period, amid a shortfall in expenditures while revenues exceeded the target.
The deficit however widened by 29.56 percent from the year ago level of P879.2 billion as expenditures posted a double-digit year-on-year growth.
In September alone, the budget shortfall amounted to P180.9 billion, 30.6 percent higher than the P138.5 billion recorded a year ago.
The government’s expenditures in the nine-month period amounted to P3.38 trillion, 5.22 percent lower than the target of P3.56 trillion.
Interest payments was below program by 17.82 percent while operating expenses was lower than the goal by 3.57 percent.
“Nonetheless, the spending gap as of end-September 2021 was lower when compared to the 9.6 percent recorded for the first semester of the year,” the BTr said.
Government spending however posted a two-digit hike of 11.7 percent from the year ago level of P3.02 trillion.
In September, expenditures totaled to P412.4 billion, expanding by 17.5 percent from the P350.9 billion recorded in September 2020.
“The outturn for the month includes the transfer of P10 billion to the Coconut Farmers and Industry Trust Fund in compliance with Republic Act 11524,” the BTr said.
As of end-September, revenue increased to P2.24 trillion, 4.71 percent above the program of P2.14 trillion and 4.37 percent higher than the 2020 performance of P2.14 trillion.
In September, government collections jumped 8.96 percent to P231.4 billion from P212.4 billion a year ago.
Meanwhile, the Bureaus of Internal Revenue (BIR) and Customs (BOC) exceeded their programs by 0.72 percent and 3.13 percent, respectively, while also posting year-on-year growths of 6.86 percent and 18.04 percent.
The BIR’s collections in September also rose by 9.69 percent from the previous year to P154.2 billion while the BOC posted a double-digit growth of 13.42 percent to P57.6 billion. – Angela Celis
