Philippines budget surplus/deficits 2011
The Philippines is experiencing both a budget surplus and a budget deficit for 2011.
The Aquino Administration posted a budget surplus of P26.26 billion in April 2011, which is recorded to be the biggest in 25 years and more than 10 times the P2.6 billion surplus in 2010. This is according to Finance Secretary Cesar V. Purisima.
The Philippine government also posted a budget surplus in August 2011 with a recorded surplus of P9.22 billion. This is a result of a growing revenue and curtailed spending by the Aquino Administration, according to the report.
Philippines budget surplus/deficits recorded for 2011 are as follows:
January 2011 – P13.4 billion surplus
February 2011 – P21.5 billion deficit
March 2011 -P18.1 billion deficit
April 2011 – P26.258 billion surplus
May 2011 – P9.6 billion deficit
June 2011 -P182 million deficit
July 2011 – P26.482 billion deficit
August 2011 – P9.22 billion surplus
With four months to go before the year ends, will the Philippines economic managers be able to meet its targeted goal of a P300 billion budget deficit cap? Stay tuned!