The government posted a smaller budget surplus of P31.4 billion in April as an 11.14% surge in state spending outpaced flat tax revenues, according to data from the Bureau of the Treasury.
The April surplus fell short of the P67.3 billion recorded a year ago, reflecting fiscal friction from an ongoing power crisis.
Total revenue rose just 2.83% to P536.8 billion, dragged down by a near-flat 0.41% crawl in Bureau of Internal Revenue (BIR) collections to P422.2 billion.
The Treasury blamed the slowdown on extended tax filing deadlines triggered by the government’s declaration of a State of National Energy Emergency.
Offsetting the weak domestic tax performance, the Bureau of Customs posted a 15.52% jump in collections to P86.3 billion, citing modernized valuation systems and digital upgrades.
Non-tax revenues rose 7.32% to P25.8 billion, padded by P623.9 million in asset privatization proceeds and 1P60 million in recovered flood-control funds.
State disbursements climbed to P505.4 billion from P454.8 billion a year earlier, driven by increased infrastructure allocations for foreign-assisted railway projects, larger local government allotments, and a P60 billion transfer of excess funds back to state health insurer PhilHealth.
Despite the softer April performance, the government’s four-month fiscal position improved. The January-to-April budget deficit narrowed by 14.44% to P324.1 billion, down from a P378.7 billion shortfall in the same period last year.
Cumulative revenues for the first four months grew 9.99% to P1.67 trillion, supported by the frontloading of state enterprise dividends which more than doubled non-tax collections to P192 billion. Total four-month spending rose 5.12% to P2 trillion.
