MANILA, Philippines — The national government's budget deficit widened in March by nearly 2 percent year-on-year to P349.7 billion, driven by higher energy emergency spending linked to the ongoing Middle East conflict.
Data from the Bureau of the Treasury (BTr) showed that the Marcos administration spent P654.8 billion during the month, a 5.23 percent increase from a year earlier. The rise in expenditure was largely attributed to stepped-up outlays for energy security measures amidst global supply disruptions.