Government budget

THE NATIONAL Government's budget deficit narrowed to P123.9 billion in November, as revenue growth outpaced state spending. Data sent by Finance Secretary ...

On the other hand, state spending reached P4.51 trillion as of end-November, up by 9.9% from the P4.1 trillion a year ago. BoC collections surged by 35.31% to P789.2 billion, which helped offset the 30.68% drop in revenues from other offices. The Bureau of Internal Revenue (BIR) collected P237.1 billion, up by 12.53% year on year, while the Bureau of Customs (BoC) saw its collections surge by 30.74% to P75.7 billion. Under the Republic Act No. Nevertheless, the momentum of the reopening of the economy and pent-up demand is still obvious with revenue growth,” Mr. Other offices saw a 61.04% increase in revenues to P12.9 billion. Diokno said this accounted for 91% of this year’s P5-trillion disbursement outlook. “Interest payments were softer than the last period. There were no revenues recorded from other tax offices. Data sent by Finance Secretary Benjamin E. In November, revenue collections jumped by 16.57% to P331.1 billion, from P284.4 billion in the same month in 2021. In the 11 months to November, the budget deficit shrank by 7.2% to P1.24 trillion, from the P1.33-trillion gap in the same period last year.

THE national government's budget deficit narrowed in November from a year earlier as revenue growth outpaced that for expenditures, Finance department data ...

Interest payments comprised P26.1 billion of the amount, down 16 percent from P31.2 billion. The BoC added P789.2 billion, a 35.31-percent gain, while other offices posted a 30.68-percent plunge to P14 billion. January to November revenues totaled P3.277.3 trillion, 18.13 percent higher than the previous year's P2.774.2 trillion. The Bureau of Customs (BoC) raised P75.7 billion, 30.74-percent up from P57.9 billion. Interest payments comprised P459.3 billion of the amount, 14.21 percent higher year on year. Total revenues, meanwhile, were 99 percent of the government's P3.3-trillion full-year goal while expenditures rose to 91 percent of the P5-trillion full-year program. The BIR contributed P2.156.4 trillion year to date, 12.56 percent higher compared to last year. The Bureau of the Treasury (BTr), meanwhile, accounted for P5.3 billion of the non-tax revenues, down 13.25 percent year on year. As for expenditures, the government spent P455 billion in November, 10.24 percent higher compared to the year-ago P412.7 billion. Other offices contributed nothing for the month compared to the P1.3 billion earned a year ago. The Bureau of Internal Revenue (BIR) netted P237.1 billion of the tax take, a 12.53-percent increase from the year-earlier P210.7 billion. At P123.9 billion, last month's shortfall was P4.8 billion or 3.71 percent lower compared to the year-earlier P128.7 billion.

The country's budget shortfall narrowed in November as the growth in revenues managed to outpace overall state spending during the month, according to the ...

DOF data showed that the deficit in November shrank by 3.7 percent to P123.9 billion from P128.7 billion in the same period last year. This already accounted for 99 percent of the full-year program of P3.3 trillion. Prior to this, the deficit had been declining for four straight months. Meanwhile, government spending in November went up by 10.2 percent to P455 billion from P412.7 billion in the comparative period. To date, the national government has already disbursed 91 percent of the P5 trillion full-year program. However, income generated by the Treasury for November slipped by 13 percent to P5.3 billion while collection from other offices including privatization proceeds and fees and charges for the month soared by 61 percent to P12.9 billion. This brought the year-to-date spending to P4.51 trillion, 9.91 percent higher than last year’s P4.11 trillion. BIR’s haul grew by 12.5 percent to P237.1 billion while Customs saw its collection jump by 31 percent to P75.7 billion from P57.9 billion last year. This effectively brought the 11-month revenue to P3.28 trillion, 18.13 percent higher than the P2.77 trillion in the same period last year. Data showed that total revenue collection for November improved by 17 percent to P331.1 billion compared to last year’s P284 billion, with the Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) both posting increases. Similarly, the fiscal deficit from January to November of P1.235 trillion was 7.23 percent lower than the P1.332 trillion a year ago. MANILA, Philippines — The country’s budget shortfall narrowed in November as the growth in revenues managed to outpace overall state spending during the month, according to the Department of Finance.

The national government recorded a budget deficit of P123.9 billion in November, narrower by 3.7 percent from P128.7 billion in the same month last year as ...

Of these, tax revenues accounted for P2.96 trillion, which rose 17.5 percent from P2.52 trillion a year ago. Finance Secretary Benjamin Diokno said November’s cash operations had resulted in a budget deficit of P1.24 trillion in the first 11 months. (FMIC) and University of Asia and the Pacific (UA&P) noted that from January to September so far, the national government had financed about 84 percent of its budget deficit from local borrowings. The growth in revenues also outpaced that of expenses, which increased by 10.2 percent to P455 billion from P412.7 billion. Diokno told reporters that the January to November deficit was only 75 percent of the P1.7 trillion that the government had expected to spend beyond its revenues in full year 2022. The national government recorded a budget deficit of P123.9 billion in November, narrower by 3.7 percent from P128.7 billion in the same month last year as revenues grew at a faster pace than expenses, data from the Bureau of the Treasury showed.

The national government's budget deficit narrowed in November as the growth of revenues outpaced that of expenditures, according to a document shared by ...

Meanwhile, expenditures for the month stood at P455 billion, up 10.24 percent from the P412.7 billion spent in November last year. Year-to-date revenues climbed to P3.28 trillion, 18.1 percent above last year’s number and representing 99 percent of the P3.3 trillion goal for 2022, Diokno said. Diokno said the deficit as of end-November accounts for 75 percent of the P1.7 trillion full-year program. Thus, the budget deficit for the first 11 months of the year amounted to P1.24 trillion, down 7.2 percent from the year ago level of P1.33 trillion, Benjamin Diokno, Department of Finance secretary, said yesterday. The latest cash operations report showed that the deficit in November stood at P123.9 billion, 3.71 percent lower versus the P128.7 billion recorded in the previous year. The national government’s budget deficit narrowed in November as the growth of revenues outpaced that of expenditures, according to a document shared by the country’s finance chief.

NASA's budget, part of a $1.7 trillion government spending bill that still needs to be voted on by Congress, is 5.6 percent more than last year's budget.

Dreier said this program is at a crucial stage of development, and Congress is providing a level of funding greater than what NASA's entire Heliophysics division is receiving to study the sun ($805 million). Lawmakers also recognized the importance of the Near-Earth Object Surveyor, a space telescope that would help NASA discover potentially hazardous asteroids and comets that come within 30 million miles of Earth's orbit. Earth science is a top priority for President Joe Biden, and the budget provides $2.2 billion (6 percent more than last year's funding) to address climate research priorities. Of note for the Artemis Program, through which NASA is seeking to land the first woman and person of color on the moon in 2025, the budget provides $1.5 billion to support the human landing system being developed by SpaceX and to back the development of competitors. NASA selected the SpaceX Starship as the human landing system for its mission in 2025 — the spacecraft is still being developed — and it's planning to select a system designed by another company (or partnership between multiple companies) for later missions. " Congress is willing to fund ambitious exploration missions," Dreier said. But the budget does include a sentence highlighting the hesitancy some lawmakers feel about NASA not owning and operating complex systems. For low- Earth orbit, where the International Space Station resides, Congress has provided $224.3 million for NASA's commercialization efforts. The NASA budget, part of a $1.7 trillion government-wide spending bill that still needs to be voted on by Congress, is 5.6 percent more than last year's enacted $24 billion budget. Congress hopes to pass the spending bill this week to avoid a partial government shutdown, which will begin Saturday if the bill isn't signed into law. NASA’s budget, part of a $1.7 trillion government spending bill that still needs to be voted on by Congress, is 5.6 percent more than last year's budget. Roughly a quarter of this, $822 million, is for the Mars Sample Return mission where NASA and the European Space Agency are partnering to bring Martian rocks back to Earth in the early to mid 2030s.

IMPROVING transparency in government spending, both at the national and local levels, will be a crucial factor in the success — or failure — of the ...

“Through this, the media can better do its duty to the people.” Atienza also said good governance reforms for next year must also address gaps in the electoral system, promoting principled politics and preventing turncoatism. “Audit reports should be adequately used by Congress, civil society, and policy think tanks to foster accountable governance.” With global and local headwinds such as soaring inflation, the government has lowered its economic growth target for 2023 to 6.0% to 7.0% from 6.5% to 7.5%. “Legislative committees should examine in-year budget implementation and performance,” Mr. Aguirre said in a Messenger chat. The country’s budget deficit, based on the Bureau of the Treasury’s cash operation report, slightly dropped in September at P179.8 billion, 0.61% lower from P180.9 billion a year earlier. Atienza Atienza said there should be amendments to the Local Government Code to “make national tax allotment shares more equitable” based on the needs and performances of LGUs. Magno, who teaches politics and development studies at the De La Salle University. Amid these economic challenges, the Philippines needs “to have a way to make its political institutions and processes transparent and more accountable to the people,” Mr. “There is a need to strengthen democratic oversight and improve transparency, accountability, and participation in planning and budgeting in both national and sub-national levels next year,” said Francisco A.

The bill, which would provide nearly $50 billion in aid to Ukraine, now heads to the House for a vote where it is expected to pass before being sent to ...

The legislation authorizes more than $10 billion for the Environmental Protection Agency, a $576 million increase over last year, as the agency oversees billions of dollars in new spending to curb greenhouse gas emissions, help the detection of methane from oil and gas wells, and manage other programs as part of a landmark climate law that Mr. Trump’s tax returns](https://www.nytimes.com/2022/12/22/us/politics/trump-audit-irs.html). Schumer that would put another $1 billion in the health fund for emergency responders and survivors of the Sept. “This is just caving in to the Democrats,” said Senator Rick Scott, Republican of Florida. [overhaul of the 135-year-old law](https://www.nytimes.com/2022/12/22/us/politics/electoral-count-act-jan-6.html) that former President Donald J. They also complained about being cut out of much of the negotiating and the demand that they pass a sweeping package just days after it was released. “But at the end of the day, I don’t want to see the government shut down, and there are some very important provisions in it.” [$1.7 trillion spending package](https://www.nytimes.com/2022/12/22/us/politics/senate-spending-bill.html?action=click&pgtype=Article&state=default&module=styln-spending-bill&variant=show®ion=MAIN_CONTENT_1&block=storyline_levelup_swipe_recirc) that would keep the U.S. A Senate Democratic aide, speaking on the condition of anonymity, described the amendment as a poison pill that would prevent its passage in the House as progressive Democrats revolted against its inclusion. The haggling over how to fast-track the legislation, on top of already drawn-out negotiations, delayed proceedings enough that the Senate also approved a one-week stopgap spending bill to ensure that the government would remain open past Friday while the broader package moved toward Mr. The bill, which funds the government through the end of September, substantially increases spending and provides $858 billion in military funding and more than $772 billion for domestic programs. Approval of the sprawling package came less than three days after it was unveiled, as lawmakers raced to avert a government shutdown and codify dozens of fiscal and legislative priorities.

The Senate passed a massive $1.7 trillion spending bill Thursday that finances federal agencies through September and provides another large round of aid to ...

The bipartisan overhaul of the Electoral Count Act is in direct response to former President Donald Trump’s efforts to convince Republican lawmakers and then-Vice President Mike Pence to object to the certification of Biden’s victory on Jan. Richard Shelby of Alabama, the committee’s ranking Republican, who was elected to the Senate in 1986 and is also retiring. Patrick Leahy, D-Vt., is retiring after serving some 48 years in the Senate and as the current chairman of the Senate Appropriations Committee. “Meanwhile, non-defense, non-veterans spending will come in below the rate of inflation, for a real-dollar cut.” “The range of people it helps is large and deep,” Senate Majority Leader Chuck Schumer, D-N.Y. “This is one of the most significant appropriations packages we have done in a very long time,” Schumer said.

The US Senate has passed a $1.7tr (£1.4tr) government funding bill - most likely avoiding a partial government shutdown during the holiday season.

A shutdown happens when parts of the government close because politicians fail to agree on a budget. Millions of people could now face losing health coverage in the spring. Electoral Count Act reforms: Included in the spending package are changes to the Electoral Count Act in response to the 6 January Capitol riots. Former President Donald Trump wrongly claimed his vice-president had the power to overturn their 2020 election loss. It includes almost $45bn in emergency aid to Ukraine and about $38bn for regions recovering from natural disasters. The Senate passed the bill on Thursday afternoon by 68 to 29 in a cross-party vote.

The Senate on Thursday passed 68-29 a $1.7 trillion funding bill to set line-by-line spending levels at every federal agency across government, ...

The slim Democratic majority will likely prove sufficient to get the measure across the finish line, however, and House Speaker Nancy Pelosi, D-Calif., said on Thursday morning her “hope” was her chamber could wrap up that evening. “We want people to go home, and as you know there are storms across the country. "A lot of hard work, a lot of compromise," Schumer said of the omnibus after it passed. While some lawmakers bemoaned the condensed schedule, the looming snowstorm and the appeal of getting home for the holidays created an opening for all 100 senators to go along with the expedited timeline. That created new drama as Senate Minority Leader Mitch McConnell, R-Ky., previously set Thursday as his deadline to support the omnibus over a short-term measure. Lee said he would only accept an up-or-down vote on the amendment that would require a simple majority for passage, but Democrats balked at the proposal for fear it would win sufficient approval and make the overall omnibus bill dead on arrival in the House. While Democrats failed to achieve their goal of equal funding increases on the two sides, the bill would I appreciate the cooperation of everyone here.” The two sides ultimately agreed to allow for a vote on a separate amendment, put forward by Sens. Negotiators released the text of the omnibus early Tuesday morning and rushed to find an agreement on which agreements would receive votes and the timing of final passage. "It is one of the most significant appropriations packages we've done it a really long time." The Senate held votes on more than a dozen amendments reflecting both Democratic and Republican priorities before approving the bill, which now heads to the House.

Senators passed a fiscal year 2023 budget Thursday that would fund the government until September 30 of next year through a sprawling piece of legislation, ...

The government is currently operating under what’s known as a “continuing resolution” passed by Congress last week in order to give it more time to negotiate a full-year funding deal. Kyrsten Sinema (I-Ariz.) and John Tester (D-Mont.) proposed a competing amendment that would have called for Title 42 to be lifted once an alternative plan is put in place and provided more money for border security. Mike Lee (R-Utah) would have halted the expiration of Title 42, which was kept in place past its Wednesday deadline this week by a judge overseeing a case filed by 19 Republican states seeking to uphold the program indefinitely. Senators announced early Thursday they had reached an agreement to pass the bill following a last-minute tussle over the expiration of the Trump-era Title 42 program that allowed federal agents to deny migrants at the border. Museum Partnership Project–both subjects of GOP criticism. The bill includes $785 million for migrant services such as food and shelter–money that is expected to be doled out to sanctuary cities that have seen a surge in migrants in the past year, including Sen.