MANILA, April 1 (Xinhua) -- The Philippine government's budget deficit increased to 164.7 billion pesos (2.93 billion U.S. dollars) in February, the country's Bureau of the Treasury said Monday.
"The wider budget gap stemmed from the 22.14 percent year-over-year increase in expenditures, matched with moderate revenue growth of 5.73 percent," the bureau said.
With the February turnout, the bureau said the year-to-date fiscal balance reverted to a deficit of 76.7 billion pesos (1.4 billion dollars), which is 26.56 percent higher than last year's January-to-February budget gap. ■
