ASEAN KEY DESTINATIONS
Philippines registers budget surplus
This brought the government's eight-month fiscal gap to P228.1 billion, or 70 percent of its full-year ceiling of P325 billion.
"We are optimistic that we will maintain our budget deficit gap within P325 billion, or 3.9 percent of gross domestic product [GDP]," Purisima said.
"We are not choking, but we are just spending more wisely to contain the fiscal deficit gap," he said.
Budget and Management Secretary Florencio Abad said the government disbursed P24.3 billion, or 18.6 percent below its spending program for August, adding that the government was "effectively reversing the overspending in the previous month and recording a cumulative under-spending of P4.6 billion, or 0.4 percent below the program from January to August."
This brought the government's eight-month spending bill to P1.030.9 trillion as against the programmed P1.035.5 trillion.
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