Philippines Aug Budget Deficit At PHP22 Bln

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The Philippine budget deficit stood at PHP 22 billion in August, the Finance Department said on Friday.

Public expenditure dropped 0.2% year-on-year in August, while revenues fell 20%.

For the first eight months of the year, the budget deficit widened to PHP 210 billion, moving closer to the government's full year target PHP 250 billion or 3.2% of GDP.

The Philippine budget deficit stood at PHP 22 billion in August, the Finance Department said on Friday. (Market News Provided by RTTNews)