The fiscal performance was mainly attributed to a marginal 0.25 percent decrease in revenue collection, coupled with the flat expenditure outturn during the period, the bureau said.
The bureau added that the deficit in the first two months fell down by 53.07 percent to 68.6 billion pesos compared to the same period in 2022.
According to the bureau, government revenue collections amounted to 211.9 billion pesos in February, down by 0.25 percent from a year ago due to a 3.01 percent decline in tax revenues.
On the other hand, the resulting cumulative collection for the two months improved by 14.18 percent to 560 billion pesos, of which 88.87 percent was from taxes.
The bureau also said February's expenditures were relatively flat at 318.2 billion pesos compared to a year ago. (1 peso equals 0.018 U.S. dollar)
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