The government booked a budget surplus of P67.3 billion in April 2025, a 57.51-percent increase from a year ago on lower expenditures, data from the Bureau of the Treasury (BTr) showed Tuesday.
Total revenue collections reached P522.1 billion in April, down 2.82 percent year-on-year due to the timing of non-tax collections. The decline was offset by a 7.84-percent growth in tax revenues.
The government said it remains on track to meet its collection goals, with four-month revenue performance strong at P1.5 trillion, up 3.35 percent year-on-year, led by an 11.49-percent increase in tax revenues which accounted for 94 percent of total collections. Non-tax revenues made up the remaining 5.97 percent or P90.7 billion.
April expenditures fell 8.03 percent, or P39.7 billion, to P454.8 billion from P494.5 billion a year ago. The BTr said the decline was largely due to lower interest payments and reduced subsidies to government corporations, particularly the National Irrigation Administration.
The timing of the transfer of the capitalization requirement for the Coconut Farmers and Industry Trust Fund also weighed on April spending growth, it said.
The Bureau of Internal Revenue (BIR) saw net collections of P420.5 billion in April, up 11.1 percent year-on-year. The Bureau of Customs’ (BOC) collection fell 7.48 percent partly due to fewer working days and lower import volumes amid global trade challenges.
Despite this, BOC’s overall collection in the four-month period reached P306.1 billion, exceeding last year’s performance by 2.16 percent.
Primary expenditures in April were P408.3 billion, or 4.37 percent (P18.7 billion) lower than the previous year’s P427.0 billion.
Interest payments (IP) in April reached P46.4 billion, declining by 31.19 percent year-on-year. This was mainly due to a shift in the timing of payments for both domestic securities and external loans related to the Lenten and Eid’l-Fitr holidays. As of end-April, total IP increased to P287.4 billion, or 10.35 percent higher compared to the same period last year.
Despite the budget surplus in April, the government registered a deficit of P411.5 billion in the first four months, representing a 78.98-percent year-on-year increase. The BTr attributed the wider deficit to a 13.57-percent faster expansion in public spending, aimed at stimulating economic activity and supporting the priority programs of the Marcos Jr. administration.
