Monday 23 July 2018
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4 months ago

Budget surplus widens to P10B in January as revenues jump due to TRAIN

Government revenues grew at a faster pace and exceeded the amount spent on public goods and services in January, the first month of implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, Bureau of Treasury data releasedFridayshowed. As such, the national government posted a P10.2-billion budget surplus at the start of the year, 359-percent bigger than the P2.2-billion surplus during the same month last year. Combined tax and non-tax revenues jumped 19 percent in January to P238.9 bil

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