(BusinessWorld) THE budget deficit eased to a six-month low in October even as it widened year on year, the Bureau of the Treasury (BTr) reported.

Preliminary data from the BTr showed the fiscal gap stood at P64.3 billion in October, or 4.77% higher than a year ago. This was 64.46% lower than the P180.9-billion deficit in September and was the lowest since the P44.4-billion gap in April.

Government spending jumped by 9.60% to P317.4 billion in October from a year earlier, but was lower than the P412.4 billion in September.

“Ninety percent or P285.8 billion of the total disbursements for the month was for primary expenditures, which posted 6.86% or P18.3-billion growth for the month,” the Treasury said in a statement.

Primary spending refers to total expenditures minus interest payments. Interest payments grew by 42.89% to 31.5 billion in October.