Article: Philippine fiscal deficit hits 22 bln pesos in August

Philippine fiscal deficit hits 22 bln pesos in August

MANILA, Sept. 18 (Xinhua) -- The fiscal deficit of the Philippine national government in August hit 22 billion pesos ( about 460 million U.S. dollars), as falling revenues can't keep up with the rising expenditure, the official data released Friday show.

The total fiscal deficit in the first eight months of the year reached 210 billion pesos (about 4.4 billion U.S. dollars), significantly higher than the 31.7 billion pesos (about 664.5 million U.S. ...

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