REPUBLIC OF THE PHILIPPINES
BUREAU OF THE TREASURY
INTRAMUROS, MANILA 2801
Funding the Republic
National Government Achieves P21.9 Billion Budget Surplus in August
19 September 2013 Manila, Philippines – The National Government achieved a fiscal surplus of P21.9 billion, eight fold the P2.5 billion surplus in August 2012. Year-to-date, overall fiscal deficit stands at P82.6billion, in line with Government projections.
Revenue Performance
Revenue collections in August reached P155.1billion, 20% or P25.7 billion higher compared to the same period last year. Collections by the Bureau of Internal Revenue (BIR) and Bureau of Customs (BoC) were recorded at P118.1 billion and P26.1 billion, reflecting 22% and 15%
year-on-year revenue growth, respectively. Revenue from other offices grew 7% from a year ago to P7.5 billion while Bureau of the Treasury (BTr) income rose 15% year-on-year to P3.4 billion.
Revenue collections reached P1,139.2 billion for the first eight months of the year. Actual collections for January to August were recorded at P811.9 billion for BIR and P198.9 billion for BOC, growing 16% and 4%, respectively, on a year-on-year basis. BTr income totaled P60.9 billion and other offices contributed P67.5 billion. Total tax revenues amounted to P145.7 billion, representing 94% of total revenues while the remainingP9.4 billion came from non-tax sources.
Expenditures
Actual disbursements for August amounted to P133.2 billion, reflecting a 5% or P6.4 billion increase, year-on-year. Interest payments amounting to P18.2 billion accounted for14% of total expenditures for the month.
Total disbursements for January to August reached P1,221.8 billion,
13% higher than comparable disbursements in 2012.
2012 2013
Surplus/(Deficit) (71.1) (82.6) (144.5) 16
Revenues 1,013.6 1,139.2 1,295.3 12
Cash 993.0 1,123.7 1,279.2 13
Non-Cash 20.7 15.5 16.1 (25)
Expenditures 1,084.7 1,221.8 1,439.7 13
Cash 1,064.1 1,206.3 1,423.6 13
Non-Cash 20.7 15.5 16.1 (25) Jan-August
Q1-Q3 Program
Percent Growth 2013/2012 Actual
Primary Surplus/ (Deficit)
Netting out interest payments as a part of expenditures, the National Government recorded a primary surplus of P40.1 billion in August and P146.3 billion within the first eight months of the year.
Fiscal Performance January to August 2013 (In Billion Pesos)
2012 2013
Surplus/(Deficit) 2.5 21.9 768
Revenues 129.4 155.1 20
Cash 128.8 154.5 20
Non-Cash 0.6 0.7 17 Expenditures 126.9 133.2 5
Cash 126.3 132.6 5
Non-Cash 0.6 0.7 17 Percent
Growth 2013/2012 August
Actual
National Government Revenues January to August 2013
(In Billion Pesos)
2012 2013
Revenues 129.4 155.1 20
BIR 96.8 118.1 22
Cash 96.7 117.9 22
Non-Cash 0.0 0.2 723
BOC 22.6 26.1 15
Cash 22.1 25.6 16
Non-Cash 0.6 0.5 (16)
BTr 3.0 3.4 15
Other Offices 7.1 7.5 7
Actual August Percent Growth 2013/2012 2012 2013 Revenues 1,013.6 1,139.2 1,295.3 12
BIR 701.4 811.9 931.0 16
Cash 682.5 797.5 920.4 17
Non-Cash 19.0 14.5 10.6 (24)
BOC 190.4 198.9 250.4 4
Cash 188.7 197.9 245.0 5
Non-Cash 1.7 1.0 5.5 (41)
BTr 60.9 60.9 45.3 0
Other Offices 60.9 67.5 68.5 11 Actual
Jan-August
Q1-Q3 Program
Percent Growth 2013/2012
National Government Expenditures January to August 2013
(In Billion Pesos)
Primary Surplus/(Deficit) January-August 2013 (In Billion Pesos)
2012 2013
Expenditures 126.9 133.2 5
Interest Payments 19.8 18.2 (8)
Others 107.1 115.0 7
Cash 106.5 114.3 7
Non-Cash 0.6 0.7 17
Actual August Percent Growth 2013/2012 2012 2013 Expenditures 1,084.7 1,221.8 1,439.7 13
Interest Payments 221.1 228.9 266.9 4
Others 863.6 993.0 1,172.8 15
Cash 842.9 977.5 1,156.7 16
Non-Cash 20.7 15.5 16.1 (25)
Percent Growth 2013/2012 Actual Q1-Q3 Program Jan-August 2012 2013 22.3 40.1 80
Revenues 129.4 155.1 20
Expenditures 107.1 115.0 7
(Net of IP) Actual August Primary Surplus/Deficit Percent Growth 2013/2012 2012 2013 150.0 146.3 122.5 (2)
Revenues 1,013.6 1,139.2 1,295.3 12
Expenditures 863.6 993.0 1,172.8 15 (Net of IP)
Q1-Q3 Program
Percent Growth 2013/2012 Actual
Primary Surplus/Deficit
Jan-August
Chart 1. National Government Budget Balance
Chart 2. National Government Revenues
Chart 3. National Government Expenditures -60
-40 -20 0 20 40
Jan Feb Mar Apr May June July August
2013 2012
0 50 100 150 200
Jan Feb Mar Apr May June July August
2013 2012
0 50 100 150 200
Jan Feb Mar Apr May June July August
2013 2012
