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Article: Philippine January-November fiscal deficit exceeds 200 bln pesos

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Xinhua News Agency
Article date:
December 20, 2002
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Philippine January-November fiscal deficit exceeds 200 bln pesos

MANILA, Dec. 20 (Xinhua) -- The Philippine Finance Department announced on Friday that fiscal deficit from January to November reached 200.6 billion pesos (3.78 billion US dollars).

The revenues in the past 11 months was 506.6 billion pesos (9. 56 billion dollars), and expenditures was 707.2 billion pesos (13. 34 billion dollars). The deficit has exceeded the original full- year target of 130 billion pesos (2.42 billion dollars) by 54 percent.

However, Finance Secretary Jose Isidro Camacho said, the fiscal performance is encouraging as the deficit for November was back down to just 13 billion pesos (245 million ...

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