Philippine Government posts PHP26.258 billion fiscal surplus

Secretary Ricky Carandang on his twitter announced that the Government posted PHP26.258 billion fiscal surplus for April. According to Secretary Carandang, it is the highest in 25 years, and is due to higher revenue collection, and careful spending.

Presidential spokesperson Lacierda added, “According to our economic managers, this strong fiscal performance was a result of an 18.22 percent increase in revenue collections for the first four months to P461.4 billion, while our expenditures for the same period decreased by 11.6 percent to P461.35 billion.”

According to the government the surplus is a good indicator that the Aquino administration is managing the people’s money well.

The Department of Budget and Management meanwhile noted that government spending picked up a bit in April. According to @govph, disbursements in April totaled PHP112.1 billion. This is 8 percent lower than PHP121.9 billion that was spent in April 2010. It is also lower than the programmed PHP131.1 billion.
Total disbursements for the first quarter reached PHP461.4 billion. This is lower by PHP60.5 billion.

The Department of Budget and Management also noted that funding for the following infrastructure projects have yet to be released (as of 30 April). Namely:

1) Department of Agriculture – Farm-to-Market Road projects (P2.5 billion);
2) Military and Police Modernization Programs (P7 billion);
3) Department of Education – Basic Educational Facilities Fund of (P11.3 billion);
4) Department of Health – Health Facilities Enhancement Program (P7.1 billion);
5) DPWH Flood Control and Drainage Projects (P1.6 billion); and
6) Infrastructure Support Fund for Public-Private Partnerships (P12.5 billion).

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Cocoy Dayao

Cocoy is the Chief Technology Officer of Lab Rats Technica, a Digital Consulting company that specialises in DevOps, iOS, and Web Apps, E-Commerce sites, Cybersecurity and Social Media consulting. He is a technology enthusiast, political junkie and social observer who enjoys a good cup of coffee, comic books, and tweets as @cocoy on twitter.

Cocoy is also the Managing Director and Editor-in-Chief of the ProPinoy Project.

Cocoy considers himself to be Liberal.