Philippines 2023 budget deficit at $26.9 billion, slightly above program

February 29, 2024 - 6:00 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 1.51 trillion pesos ($26.90 billion) budget deficit PHBUD=ECI last year, with the shortfall hitting 401 billion pesos in December, the Bureau of the Treasury said on Thursday.

The 2023 deficit was down 6.32from the previous shortfall of 1.61 trillion pesos in 2022 and slightly above the 1.49 trillion pesos program for the year, it said.

($1 = 56.2000 Philippine pesos)

— Reporting by Mikhail Flores and Neil Jerome Morales