April budget surplus swells to P67.3 billion
INQUIRER FILE PHOTO
Fiscal performance for April 2025
MANILA, Philippines — The national government recorded a budget surplus of P67.3 billion in April, surging by 57.51 percent or P24.6 billion from a year ago, as tax revenues posted stronger growth and spending slowed for the month.
However, for the January to April period, the cumulative budget deficit surged by 78.98 percent to P411.5 billion, as public spending rose by 13.57 percent to support economic activity and the priority programs of the Marcos administration.
Data released on Tuesday by the Bureau of the Treasury (BTr) also showed that tax collection in April alone rose 7.84 percent year-on-year, helping offset a temporary dip in total revenue caused by the timing of nontax collections.
Total revenue collections slipped 2.82 percent during the month, settling down at P 522.1 billion.
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4-month revenues
“Nevertheless, the government is on track to hit its collection goals this year as year-to-date revenue performance remained strong,” the BTr said.
It noted that total revenues hit P1.5 trillion, up 3.35 percent year-on-year, or P49.3 billion higher than the same period last year.
The BTr said this growth was mainly driven by an 11.49-percent increase in tax revenues, which rose by P147.4 billion and accounted for 94.03 percent of total year-to-date collections.
Nontax revenues such as dividends from government corporations comprised the remaining 5.97 percent, or P90.7 billion, it added.
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BIR performance
For the month of April alone, the Bureau of Internal Revenue (BIR) reported net collections of P420.5 billion, marking an 11.10-percent year-on-year increase of P42 billion.
This growth was driven by higher receipts from corporate income tax (CIT), value-added tax (VAT) and personal income tax (PIT).
The rise in CIT collections was mainly due to the annual corporate tax filing deadline in April.
Meanwhile, PIT and VAT revenues benefited from the BIR’s efforts to simplify tax filing through improved digital services.
The boost in VAT collections was further supported by the agency’s crackdown on fake receipts and ongoing campaign against illicit trade.
Combined with increased excise tax revenues, these factors helped the BIR achieve a strong year-to-date performance of P1.1 trillion, representing a double-digit growth of 14.50 percent compared to the same period last year.
Customs collection
Meanwhile, the Bureau of Customs (BOC) collected P74.7 billion in April, reflecting a year-on-year decline of 7.48 percent, or P6 billion.
“This is partly due to the fewer working days for the month and the impact of lower import volumes amid global trade challenges,” it said.
Nontax revenues in April 2025 dropped significantly to P24.1 billion, marking a 68.08-percent decrease or P51.3 billion less than the same month last year.
The decline was mainly attributed to the delayed remittance of dividends by government-owned and -controlled corporations.
As a result, total nontax collections for the first four months of the year reached P90.7 billion, which is 51.94 percent lower than the P188.8 billion collected during the same period in 2024.
Expenditure
On the spending side, government disbursements in April 2025 declined by 8.03 percent to P454.8 billion from P494.5 billion in the same month last year.
The decrease was mainly attributed to lower interest payments and reduced subsidies to government corporations.
Despite the slowdown in April, total government spending for the first four months of the year still rose by 13.57 percent to P1.932 trillion, or P230.9 billion higher compared to the same period last year.
