Gov’t trims budget deficit; Q1 borrowings to widen

MANILA, Philippines — Slower government expenditures narrowed the Marcos administration’s budget deficit by almost a third in November, according to the Bureau of the Treasury (BTr). The fiscal shortfall declined by 26 percent year-on-year to P157.6 billion last month, a reversal from the budget surplus recorded in October. READ: Gov’t budget surplus swells in Oct