MANILA: A double-digit revenue growth helped swing the Philippine government’s budget position back to a surplus in October, keeping the 10-month fiscal deficit below the 2024 ceiling set by the Marcos administration.
The government ran a budget surplus of 6.3 billion peso in October, a reversal from the 34.4 billion peso deficit recorded a year ago, figures from the latest cash operations report of the Bureau of the Treasury (BTr) showed.
