In a statement, the BTr said the fiscal gap widened as the growth in expenditures outpaced revenue collection.
However, the cumulative deficit for the first nine months narrowed slightly by 1.35 percent to P970.2 billion, remaining 9.08 percent below the target of P1.1 trillion for the period.
Government revenues reached P299.7 billion in September, marking a 17.3-percent year-over-year increase. Year-to-date collections rose to P3.3 trillion, 16 percent higher than the same period last year and 4.5 percent ahead of the January-September target.
Tax revenues accounted for 85 percent of collections, with the Bureau of Internal Revenue reporting a 14.8-percent increase to P174.7 billion, driven by higher personal income and value-added taxes.
The Bureau of Customs collected P76.3 billion, although this was 3.3 percent lower than the previous year, due to tariff reductions and increased smuggling activity.
Government spending increased by 13.1 percent to P572.9 billion in September, primarily due to capital outlays, personnel expenditures following salary adjustments, and healthcare worker allowances.
Total expenditures for the first nine months amounted to P4.3 trillion, 11.6 percent higher than the same period last year and exceeding the government’s program by 1.09 percent.
Interest payments for the period reached P583.3 billion, reflecting a 26.8-percent increase due to new external loans and currency fluctuations.
Despite the higher September deficit, the national government remains on track to meet its fiscal targets, with 65.4 percent of the P1.5-trillion full-year deficit program achieved as of September, the BTr said.
