Philippines posts May budget deficit of P122.2 billion

June 28, 2023 - 12:12 PM
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1000 cash
This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

 The Philippine government posted a budget deficit PHBUD=ECI of P122.2 billion pesos ($2.21 billion) in May, versus a 146.8 billion pesos deficit in the same period last year, the Bureau of the Treasury said on Tuesday.

The cumulative budget gap for the first five months of the year reached 326.3 billion pesos, it said in a statement.

($1 = 55.36 Philippine pesos)

—Reporting by Neil Jerome Morales and Enrico dela Cruz; Editing by Martin Petty