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Article: Philippine Budget Deficit Swells to 760 Mln Pesos

Article from:
Xinhua News Agency
Article date:
May 8, 2001
Copyright

Philippine budget deficit swelled by 1 billion pesos (20 million U.S. dollars) to 38 billion pesos (760 million dollars) for the first four months of the year 2001.

National Treasurer Sergio Edeza noted that the deficiency in the budget for the first quarter of the year was 37 billion pesos (740 million dollars), the ABS-CBN news channel reported.

Edeza said a shortfall in tax collection resulted in the widened ...

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