• Philippines posted a budget deficit of 195.9 billion pesos ($3.42b) in March, the Bureau of the Treasury in Manila said in a statement posted on its website.
• Jan.-March budget deficit at 272.6b pesos ($4.75b) vs deficit 270.9b pesos year ago
  ** Revenue +14.05% y/y at 933.7b pesos vs 818.7b pesos year ago
  ** Spending +10.72% y/y at 1.21t pesos vs 1.09t pesos year ago
• March budget deficit at 195.9b pesos ($3.42b) vs deficit 210.3b pesos year ago
  ** Revenue +11.32% y/y at 287.9b pesos, +29% m/m; 258.7b pesos year ago
  ** Bureau of Internal Revenue collection 145.3b vs 141b a year ago
  ** Bureau of Customs collection 74.9b vs 80.3b a year ago
  ** Spending +3.18% y/y at 483.8b pesos, +24% m/m; 468.9b pesos year ago