An October 21, 2010 report prepared by the Bureau of Treasury, Department of Finance
January to September Fiscal Deficit at P 259.8 Billion
Better Than Program by P13.9 Billion
21 October 2010, Manila, Philippines: The January to September fiscal deficit of the National Government reached P259.8 billion, P13.9 billion lower than the programmed ceiling of P273.7 billion. The over performance can be attributed to the P54.2 billion lower spending partly on account of the savings in interest payments due to lower borrowing cost.
Revenue Performance
Revenue collections reached P894.7 billion for the first three quarters. It grew by 7% compared to the same period of last year’s P839.8 billion. The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) registered a growth of 9% and 15%, respectively, for the first three quarters compared to same period last year. Actual collections for the period January to September were recorded at P607.3 billion for BIR and P191.0 billion for BOC. Actual cash collections for BIR and BOC for the period January to September were significantly higher than its levels in 2009. From January to September, cash collections for BIR was at P598.9 billion or 12.0% higher than last year, while cash collections for BOC was at P170.2 billion or 18.0% higher than 2009. Likewise, the Bureau of the Treasury income was recorded at P45.5 billion while other offices, registered an income of P50.9 billion.
Revenue collections reached P91.9 billion for the month of September. Actual collections for the month were recorded at P61.0 billion and P20.2 billion for BIR and BOC, respectively. Bureau of the Treasury income and collections from other offices for the month was recorded at P5.3 billion and P5.4 billion, respectively.
Expenditures
Actual disbursements for the first three quarters amounted to P1,154.5 billion, 7% higher than the comparable disbursements in 2009. Excluding interest payments, total disbursements increased by 8%. Actual disbursements in September amounted to P123.6 billion.
Primary Surplus/(Deficit)
Netting out the interest payments in the expenditures, the National Government recorded a primary surplus for the month of September amounting to P0.1 billion. Cumulatively, the primary deficit reached to P15.2 billion for January to September.
Fiscal Performance
January to September 2010
(In Billion Pesos)
| September
Actual |
Percent
Growth 2010/2009 |
||
| 2009 | 2010 | ||
| Surplus/(Deficit) | (27.5) | (31.7) | (15.2) |
| Revenues | 100.7 | 91.9 | (8.7) |
| Cash | 97.6 | 90.0 | (7.8) |
| Non-Cash | 3.1 | 1.9 | (37.6) |
| Expenditures | 128.2 | 123.6 | (3.6) |
| Cash | 125.2 | 121.7 | (2.8) |
| Non-Cash | 3.1 | 1.9 | (37.6) |
| Jan-SeptActual | 2010Q1-Q3
Program |
Program vs Actual | PercentGrowth
2010/2009 |
||
| 2009 | 2010 | ||||
| Surplus/(Deficit) | (237.5) | (259.8) | (273.7) | 13.9 | 9.4 |
| Revenues | 839.8 | 894.7 | 935.1 | (40.3) | 6.5 |
| Cash | 796.1 | 865.5 | 898.8 | (33.3) | 8.7 |
| Non-Cash | 43.7 | 29.2 | 36.2 | (7.1) | (33.2) |
| Expenditures | 1,077.3 | 1,154.5 | 1,208.7 | (54.2) | 7.2 |
| Cash | 1,033.7 | 1,125.3 | 1,172.5 | (47.2) | 8.9 |
| Non-Cash | 43.7 | 29.2 | 36.2 | (7.1) | (33.2) |
National Government Revenues
January to September 2010
(In Billion Pesos)
| Sept
Actual |
Percent
Growth 2010/2009 |
||
| 2009 | 2010 | ||
| Revenues | 100.7 | 91.9 | (8.7) |
| BIR | 56.2 | 61.0 | 8.4 |
| Cash | 53.8 | 59.8 | 11.3 |
| Non-Cash | 2.5 | 1.2 | (53.7) |
| BOC | 18.3 | 20.2 | 10.8 |
| Cash | 17.7 | 19.5 | 10.1 |
| Non-Cash | 0.6 | 0.8 | 32.9 |
| BTr | 6.0 | 5.3 | (12.6) |
| Other Offices | 20.2 | 5.4 | (73.1) |
| Jan-Sept
Actual |
2010
Q1-Q3 Program |
Program vs | Percent
Growth 2010/2009 |
||
| 2009 | 2010 | Actual | |||
| Revenues | 839.8 | 894.7 | 935.1 | (40.4) | 6.5 |
| BIR | 557.0 | 607.3 | 620.5 | (13.2) | 9.0 |
| Cash | 534.5 | 598.9 | 615.1 | (16.2) | 12.0 |
| Non-Cash | 22.5 | 8.4 | 5.5 | 2.9 | (62.5) |
| BOC | 165.4 | 191.0 | 210.2 | (19.2) | 15.5 |
| Cash | 144.2 | 170.2 | 179.4 | (9.2) | 18.0 |
| Non-Cash | 21.2 | 20.7 | 30.8 | (10.0) | (2.1) |
| BTr | 52.2 | 45.5 | 45.2 | 0.4 | (12.8) |
| Other Offices | 65.1 | 50.9 | 59.2 | (8.3) | (21.9) |
National Government Expenditures
January-September 2010
(In Billion Pesos)
| SeptemberActual | PercentGrowth
2010/2009 |
||
| 2009 | 2010 | ||
| Expenditures | 128.2 | 123.6 | (3.6) |
| Int. Payments | 31.8 | 31.8 | (0.1) |
| Others | 96.4 | 91.8 | (4.8) |
| Jan-Sept
Actual |
2010
Q1-Q3 Program |
Program vs | Percent
Growth 2010/2009 |
||
| 2009 | 2010 | Actual | |||
| Expenditures | 1,077.3 | 1,154.5 | 1,208.7 | (54.2) | 7.2 |
| Int. Payments | 235.3 | 244.5 | 256.0 | (11.4) | 3.9 |
| Others | 842.1 | 910.0 | 952.8 | (42.8) | 8.1 |
NG Primary Surplus/(Deficit)
January-September 2010
(In Billion Pesos)
| SeptemberActual | PercentGrowth
2010/2009 |
||
| 2009 | 2010 | ||
| Primary Surplus/ (Deficit) | 4.3 | 0.1 | (96.8) |
| Revenues | 100.7 | 91.9 | (8.7) |
| Expenditures (Net of IP) | 96.4 | 91.8 | (4.8) |
| Jan-SeptActual | 2010Q1-Q3
Program |
Program vs | PercentGrowth
2010/2009 |
||
| 2009 | 2010 | Actual | |||
| Primary Surplus/ (Deficit) | (2.3) | (15.2) | (17.7) | 2.4 | 576.4 |
| Revenues | 839.8 | 894.7 | 935.1 | (40.4) | 6.5 |
| Expenditures (Net of IP) | 842.1 | 910.0 | 952.8 | (42.8) | 8.1 |
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