Gov’t posts P31-B budget surplus in April

MANILA, Philippines–The national government posted a record-high monthly budget surplus of P31 billion in April as both revenues and expenses grew by double digits year-on-year, according to the Bureau of the Treasury.

Based on data released Monday, the deficit for the first four months of 2012 was P2.9 billion, less than 3 percent of the P109.34 billion that the government intends to spend on top of national budget for first semester.