PHL records P26-B surplus in April

The national government recorded a P26.258-billion surplus in April, Finance Secretary Cesar Purisima said Monday. Expenditures fell below the disbursements, which helped government post its widest recorded surplus in recent years for April, The surplus last month also reflected a 910.31-percent improvement over the P2.599-billion posted a year earlier. Purisima said the fiscal results in April brought the four-month surplus to P61 million and reversed the P131.80-billion deficit the government incurred in the same period last year. Revenues from January to April rose to P461.413 billion, up 18.22 percent from P390.292 billion in the first four months of 2010. “With fiscal discipline and strong commitment to improving revenue collections, things are definitely improving," Purisima said. “We are focused on building on these gains to ensure a smooth path to fiscal consolidation," he added. Government spending declined by 8.03 percent to P112.077 billion in April from P121.869 billion year-on-year, the Finance Department said. — VS, GMA News