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Section: Economy - The National Government posted a deficit of P10.5 billion in October 2010 significantly lower than the programmed P19.1 billion for the month as revenue collections increased by 15.1 percent year-on-year. Both cash and non-cash revenue collections for the month increased by 7.0 percent and 2,421.3 percent, respectively. Last month's deficit is 63.2 percent lower than the P28.5 billion deficit posted in the same period last year.
By collection agency, the Bureau of Internal Revenue (BIR) continues to outperform target as it posted revenue collections of P63.6 billion exceeding its P62.6 billion monthly target. Both the Regional Offices and the Large Taxpayers …