MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
The P18.9-billion deficit — from revenues of P472.3 billion and expenditures of P491.2 billion — markedly declined from June’s P241.6-billion deficit and July 2024’s P28.8-billion shortfall.
Year to date, the budget balance remained in deficit at P784.4 billion, higher than the P642.8 billion seen in the same period last year.
Budget shortfall narrows in July, This news data comes from:http://www.052298.com
July revenues were up 3.26 percent from last year's P457.4billion. Taxes accounted for almost all of the month’s revenues at P423.0 billion.
To date, revenues and expenditures were 4.82 percent and 8.22 percent higher than P2.61 trillion and P3.25 trillion, respectively, recorded from January to July last year.
- Bonoan freezes DPWH travel passes
- Xi and Putin round on West at regional summit in China
- Trump moves to end US tariff exemption for small packages
- 2 Marikina policemen accused of molestation
- Marcos signs laws declaring holidays across PH
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Lacson clears air over conflict with Marcoleta on flood control probe
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Trump moves to limit US stays of students, journalists
- Epstein victims compiling list of sexual abusers
