PHL gov’t posts PHP52.8B budget surplus in April ’17

State revenue collection in April 2017 rose four percent year-on-year, partly due to the deadline of filing of income tax returns, enabling the government to post a PHP52.8 billion budget surplus. (Photo: Bureau of the Treasury-Intramuros, Manila/Facebook)

MANILA—State revenue collection in April 2017 rose four percent year-on-year, partly due to the deadline of filing of income tax returns, enabling the government to post a PHP52.8 billion budget surplus.

Data released by the Bureau of the Treasury (BTr) Friday showed that the budget surplus in the fourth month this year is, however, 4.4 percent lower than year-ago’s PHP55 billion.

Revenues for the month amounted to PHP235.9 billion, four percent than year-ago’s PHP246.6 billion.

Of the total, the Bureau of Internal Revenue (BIR) contributed PHP219.9 billion, up four percent from year-ago’s PHP211.8 billion.

Collections by the Bureau of Customs (BOC) reached PHP31.1 billion, down five percent compared to the PHP32.7 billion same period last year.

Revenues of the BTr contracted by 75 percent to PHP7.1 billion but the Other Offices posted a 29 percent increase in collection to PHP8.9 billion.

Expenditures last April reached PHP183.1 billion, four percent down against the PHP191.6 billion same period last year.

For the four-month period, revenues totaled to PHP768.3 billion, up six percent than year-ago’s PHP725.6 billion.

Expenditures are up two percent to PHP798.4 billion from the end-April 2016’s PHP783.1 billion.

This resulted to a budget gap of PHP30.2 billion, down 47 percent than the PHP57.5 billion same period last year.

BIR and BOC’s collection both rose 10 percent during the period to PHP558.1 billion and PHP135.3 billion, respectively.

BTr revenues amounted to PHP30.1 billion, down 43 percent, and the Other Offices’ collection rose by nine percent to PHP38.8 billion.