11-month NG revenue haul at P1.25 B, up 13%

Revenue collection of the national government rose 13 percent as agencies earned P1.25 trillion for national government coffers from January to November this year to narrow the fiscal deficit to P96.254 billion, the Department of Finance said in a statement issued on Wednesday.   The Bureau of Internal Revenue (BIR) haul was P849.5 billion while the Bureau of Customs (BoC) earned P242.96 billion. The Bureau of Treasury reported income of P75 billion and other revenue agencies’ revenues totaled P82.276 billion. Total disbursements posted were P1.35 billion.   BIR’s performance so far is 90.8 percent of its target of P935.5 billion while Customs’ revenues is 87.4 percent of its goal of P278 billion.   These agencies’ targets are the revised levels the Development Budget Coordination Committee (DBCC) approved last October. Economic planners on the DBCC lowered the revenue goals after they scaled down their economic growth forecast to 4.5 – 5.5 percent.   The BIR, BoC and other revenue agencies have only one more month left to earn the remainder of the revenues they need to meet their full-year targets.

Henares  said, “my people at the BIR are fully focused on recouping the 5.8 billion deficit by the end of December.” The BIR figure for the first 11 months is different from what the DOF has reported. The BIR said it collected P854.5 billion, not P849.5 billion as per DOF figures. — ELR/KG, GMA News