24 October 2012 , Manila, Philippines: The January to September fiscal deficit of the National Government reached P106.062 billion, P77.281 billion lower than the programmed ceiling of P183.343 billion. The National Government registered a deficit in September amounting to P34.854 billion.

Revenue Performance

Revenue collections reached P1,118.947 billion for January to September. Actual collections were recorded at P772.468 billion for BIR and P213.656 billion for BOC, registering a growth of 13% and 10%, respectively compared to the same period last year. The Bureau of the Treasury income was recorded at P65.055 billion while collections other offices were recorded at P67.768 billion.

Revenue collections reached P105.309 billion for the month of September. Actual collections for the month were recorded at P71.036 billion for BIR, P23.208 billion for BOC. Bureau of the Treasury income and collections from other offices for the month were recorded at P4.181 billion and P6.884 billion, respectively.

Expenditures

For January to September 2012, total disbursements amounted to P1,225.009 billion, 14% higher than the comparable disbursements in 2011. Excluding interest payments, total disbursements increased by 14%. Actual disbursements in September amounted to P140.163 billion.

Primary Surplus/ (Deficit)

Netting out the interest payments in the expenditures, the National Government recorded a primary surplus for January to September amounting to P139.187 billion.