The government continues to post increases in revenue collection with the February 2014 level expanding by seven percent year-on-year to P120.29 billion from year-ago’s P112.35 billion.
Data released by the Department of Finance showed that the jump in revenues exceeded growth in expenditures last February but in actual number the amount of expenditures is higher at P130 billion, up by five percent over year-ago’s P124.1 billion.
This resulted to a deficit of P9.72 billion, 17 percent lower than the P11.75 billion in February 2013.
‘Irrigation system water level
enough until harvest season’
The water level at the Bago River Irrigation System in central Negros Occidental has increased because of the two days of continued rains, Rosemary Cuanca, president of the Federation of Irrigators Associations, said yesterday.
Caunca said the rainwater accumulated in their irrigation system is enough to supply farmlands for at least three weeks until harvest time in the middle of May.
She said there is no more need for cloud-seeding activities although the Office of the Provincial Agriculturist has allotted P17 million in mitigation schemes for the summer season, of which P2 million will be given to irrigators associations.
Sugar supply sufficient
for local demand: SRA
The Sugar Regulatory Administration assured the public yesterday that the country has enough sugar stocks to meet domestic demand as it expressed alarm over the rise of mill gate prices of sugar over the past weeks.
SRA Administrator Regina Martin said there should be no reason for sugar prices to go up because the estimated production of 2.356 million metric tons this crop year will be achieved, if not surpassed.
"The country has, in fact, already shipped out more than 125,000 metric tons of ‘D’ sugar to the world and about 60,000 metric tons to the US,” she said.