RP posts narrower 9-mo. deficit compared to program

The government posted a narrower budget deficit of P259.8 billion in the first nine months of the year, compared to the P273.7-billion target for the period, the Finance Department said Thursday. A tighter rein on spending as well as lower interest rates helped government to actually save as much as P54.2 billion during the period, according to Finance Secretary Cesar V. Purisima. — VS, GMANews.TV