Xinhua world economic news summary at 0900 GMT, April 1

MANILA -- The Philippine government's budget deficit increased to 164.7 billion pesos (2.93 billion U.S. dollars) in February, the country's Bureau of the Treasury said Monday.

"The wider budget gap stemmed from the 22.14 percent year-over-year increase in expenditures, matched with moderate revenue growth of 5.73 percent," the bureau said. With the February turnout, the bureau said the year-to-date fiscal balan