MANILA -The national government's budget deficit in May narrowed by 16.7 percent to P122.2 billion from P146.8 billion in the same month of 2022 as the growth in revenues again outpaced that of spending. Data at the Bureau of the Treasury (BTr) show that the latest monthly readout brought the January to May deficit down by 28.9 percent to P326.3 billion from P458.7 billion. In May alone, revenues grew by 9.4 percent to P333.4 billion while five-month receipts jumped by 108 percent to P1.41 trillion.

https://business.inquirer.net/407422/ph-budget-deficit-in-may-narrowed-by-16-7-to-p122-2b

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