The Aquino administration posted its widest budget deficit in two years last year — albeit still below target– after spending caught up and revenues contracted in the last month of 2015.
The budget gap amounted to P121.7 billion, up from P73.1 billion a year ago, the Bureau of the Treasury reported on Thursday.
It was the widest deficit by the Aquino government since 2013’s P164.062 billion. A deficit means the government spent more than it earned.
