1. REPUBLIC OF THE PHILIPPINES
BUREAU OF THE TREASURY
INTRAMUROS, MANILA 2801
Funding the Republic
January to September Fiscal Deficit at P 259.8 Billion
Better Than Program by P13.9 Billion
21 October 2010, Manila, Philippines: The January to September
fiscal deficit of the National Government reached P259.8 billion, P13.9
billion lower than the programmed ceiling of P273.7 billion. The over
performance can be attributed to the P54.2 billion lower spending partly
on account of the savings in interest payments due to lower borrowing
cost.
Revenue Performance
Revenue collections reached P894.7 billion for the first three quarters. It
grew by 7% compared to the same period of last year’s P839.8 billion.
The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC)
registered a growth of 9% and 15%, respectively, for the first three
quarters compared to same period last year. Actual collections for the
period January to September were recorded at P607.3 billion for BIR and
P191.0 billion for BOC. Actual cash collections for BIR and BOC for the
period January to September were significantly higher than its levels in
2009. From January to September, cash collections for BIR was at
P598.9 billion or 12.0% higher than last year, while cash collections for
BOC was at P170.2 billion or 18.0% higher than 2009. Likewise, the
Bureau of the Treasury income was recorded at P45.5 billion while other
offices, registered an income of P50.9 billion.
Revenue collections reached P91.9 billion for the month of September.
Actual collections for the month were recorded at P61.0 billion and
P20.2 billion for BIR and BOC, respectively. Bureau of the Treasury
income and collections from other offices for the month was recorded at
P5.3 billion and P5.4 billion, respectively.

2. Expenditures
Actual disbursements for the first three quarters amounted to P1,154.5
billion, 7% higher than the comparable disbursements in 2009.
Excluding interest payments, total disbursements increased by 8%.
Actual disbursements in September amounted to P123.6 billion.
Primary Surplus/(Deficit)
Netting out the interest payments in the expenditures, the National
Government recorded a primary surplus for the month of September
amounting to P0.1 billion. Cumulatively, the primary deficit reached to
P15.2 billion for January to September.
Fiscal Performance
January to September 2010
(In Billion Pesos)
September Percent
Actual Growth
2009 2010 2010/2009
Surplus/(Deficit) (27.5) (31.7) (15.2)
Revenues 100.7 91.9 (8.7)
Cash 97.6 90.0 (7.8)
Non-Cash 3.1 1.9 (37.6)
Expenditures 128.2 123.6 (3.6)
Cash 125.2 121.7 (2.8)
Non-Cash 3.1 1.9 (37.6)
Jan-Sept 2010 Percent
Actual Q1-Q3 Program Growth
2009 2010 Program vs Actual 2010/2009
Surplus/(Deficit) (237.5) (259.8) (273.7) 13.9 9.4
Revenues 839.8 894.7 935.1 (40.3) 6.5
Cash 796.1 865.5 898.8 (33.3) 8.7
Non-Cash 43.7 29.2 36.2 (7.1) (33.2)
Expenditures 1,077.3 1,154.5 1,208.7 (54.2) 7.2
Cash 1,033.7 1,125.3 1,172.5 (47.2) 8.9
Non-Cash 43.7 29.2 36.2 (7.1) (33.2)

3. National Government Revenues
January to September 2010
(In Billion Pesos)
Sept Percent
Actual Growth
2009 2010 2010/2009
Revenues 100.7 91.9 (8.7)
BIR 56.2 61.0 8.4
Cash 53.8 59.8 11.3
Non-Cash 2.5 1.2 (53.7)
BOC 18.3 20.2 10.8
Cash 17.7 19.5 10.1
Non-Cash 0.6 0.8 32.9
BTr 6.0 5.3 (12.6)
Other Offices 20.2 5.4 (73.1)
Jan-Sept 2010 Percent
Actual Q1-Q3 Program vs Growth
2009 2010 Program Actual 2010/2009
Revenues 839.8 894.7 935.1 (40.4) 6.5
BIR 557.0 607.3 620.5 (13.2) 9.0
Cash 534.5 598.9 615.1 (16.2) 12.0
Non-Cash 22.5 8.4 5.5 2.9 (62.5)
BOC 165.4 191.0 210.2 (19.2) 15.5
Cash 144.2 170.2 179.4 (9.2) 18.0
Non-Cash 21.2 20.7 30.8 (10.0) (2.1)
BTr 52.2 45.5 45.2 0.4 (12.8)
Other Offices 65.1 50.9 59.2 (8.3) (21.9)

4. National Government Expenditures
January-September 2010
(In Billion Pesos)
September Percent
Actual Growth
2009 2010 2010/2009
Expenditures 128.2 123.6 (3.6)
Int. Payments 31.8 31.8 (0.1)
Others 96.4 91.8 (4.8)
Jan-Sept 2010 Program Percent
Actual Q1-Q3 vs Growth
2009 2010 Program Actual 2010/2009
Expenditures 1,077.3 1,154.5 1,208.7 (54.2) 7.2
Int. Payments 235.3 244.5 256.0 (11.4) 3.9
Others 842.1 910.0 952.8 (42.8) 8.1
NG Primary Surplus/(Deficit)
January-September 2010
(In Billion Pesos)
September Percent
Actual Growth
2009 2010 2010/2009
Primary Surplus/ 4.3 0.1 (96.8)
(Deficit)
Revenues 100.7 91.9 (8.7)
Expenditures 96.4 91.8 (4.8)
(Net of IP)
Jan-Sept 2010 Percent
Actual Q1-Q3 Program vs Growth
2009 2010 Program Actual 2010/2009
Primary Surplus/ (2.3) (15.2) (17.7) 2.4 576.4
(Deficit)
Revenues 839.8 894.7 935.1 (40.4) 6.5
Expenditures 842.1 910.0 952.8 (42.8) 8.1
(Net of IP)