The Philippines booked a wider budget deficit of P786.8 billion in the first half, but still below the programmed level as revenue collection growth outpaced state spending, according to data from the Bureau of the Treasury reported by Philstar Biz.
The government's budget shortfall from January to June was 2.8 percent higher than last year's P765.5 billion. Despite the increase, the deficit remained within the government's fiscal program, indicating that revenue measures are taking effect even as expenditures rise to support economic recovery.
The Treasury report highlighted stronger tax and non-tax collections, which helped temper the widening gap. Analysts will watch second-half performance closely as the government continues to fund infrastructure and social programs while managing debt levels.