Rolling P24bn budget deficits until 2020
Friday, September 16, 2016
Jeffers.PIC: KEOAGILE BONANG
Largely due to a P4 billion rise in development expenditure, government’s spending is expected to outweigh revenues in the 2017-2018 financial year by P6.8 billion or -4.1% of the GDP.
Deficits of similar magnitudes are seen until 2019 before the budget shortfall declines to -2.2% in 2020.
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