Advertisement
mmegi

Budget on track for surprise diamond-backed surplus

Balancing act: Serame’s books could be headed for a surplus at the end of March PIC: PHATSIMO KAPENG
Balancing act: Serame’s books could be headed for a surplus at the end of March PIC: PHATSIMO KAPENG

Stronger than expected mineral exports, particularly diamonds, helped the budget post a P598.7 million surplus for the first half of the 2022-23 fiscal year, an achievement that has raised hopes of a positive outturn for the full year.

The last time the budget recorded a first half surplus was in 2014-15 with P859 million, according to BoB records available online.

Finance Ministry technocrats have not yet revised their expectations of a P7.7 billion deficit for the current fiscal year, although Minister Peggy Serame is expected to give an update on the numbers when she delivers the budget next month.

Advertisement
Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

Have a Story? Send Us a tip
arrow up