Gov’t surplus up 57% in April on stronger tax haul

MANILA, Philippines — The national government recorded a budget surplus of P67.3 billion in April, up 57.51 percent from a year ago, as tax revenues posted accelerated while spending slowed.

Data released Tuesday by the Bureau of Treasury showed that tax revenue collections had risen by 7.84 percent year-on-year in April, helping offset a temporary dip in total revenue caused by the timing of non-tax collections.

However, the cumulative fiscal balance for the first four months of 2025 showed a deficit of P411.5 billion, nearly 79 percent higher than the previous year’s level, due to sustained expansion in public disbursements.

Despite a 2.82 percent decline in total revenues for April, the government remains on track with its collection targets, with year-to-date revenues reaching P1.5 trillion, or 3.35 percent higher than the same period last year.

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April is a tax payment season as the deadline for the filing of annual income tax return for calendar year ending 2024 and payment of corresponding taxes was on April 15.

Fiscal performance for April 2025

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