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Budget shortfall slightly up in November as underspending persists

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Philippine Star

Ramon Royandoyan – Philstar.com December 24, 2021 | 3:30pm MANILA, Philippines — The Duterte administration continued to spend more than it earned in November, but it is still poised to miss its budget deficit target for the year as underspending persists. Data from the Bureau of the Treasury released on Friday revealed the budget gap in November amounted to P128.7 billion, widening by 0.33% year-on-year. But despite the slightly bigger gap, the nine-month shortfall hit P1.3 trillion, only accounting for 72% of the state’s full-year deficit limit of P1.9 trillion, or 9.5% of gross domestic pro…

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