Aquino admin posts P31-B surplus in April

The Aquino administration on Monday said it posted a fiscal surplus of P31.024 billion in April, the highest monthly surplus recorded since the P54.1 billion recorded in November 2007.   The April surplus is wider than the P26.258 billion a year earlier, in spite of higher spending, according to the Department of Finance.   Revenues improved to P153.268 billion, 10.8 percent more than the P138.335 billion generated in the same comparable period.   Expenditures increased to P122.244 billion, up 9.1 percent from P112.077 billion.   The Finance Department  attributed the April surplus to higher revenues during the tax-filing season.   The Bureau of Internal Revenue, which accounts for 70 percent of government revenues, collected P116.021 billion, up 12.2 percent.   The Bureau of Customs collected P25.367 billion, up 13 percent, and The Bureau of the Treasury’s income and collections totaled P11.880 billion.   Revenues during the first four months totaled P514.242 billion, 11.4 percent more than the P461.413 billion a year earlier.   Finance Department data showed that BIR collections in January to April reached P345.065 billion, up 13.9 percent.   The Customs Bureau collected P94.896 billion in the four months to April,  up 11.6 percent.   The Treasury Bureau’s income improved to P41.847 billion while collections from other offices totaled P32.434 billion.   On the other hand, expenditures increased to P517.127 billion, or 12.1 percent more than the P461.352 billion disbursed a year earlier.   The April surplus brought the fiscal position to a deficit of P2.885 billion in the first four months from a surplus of P61 million in the same period last year. —DVM/VS, GMA News