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.
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.
Budget shortfall narrows in July
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.
Budget shortfall narrows in July, This news data comes from:http://771bg.com
- Argentine police recover Nazi-looted painting spotted in property ad
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Nepal to block unregistered social media platforms – govt
- Protesters storm Discaya compound, Sotto calls for calm
- New mining law to balance profit, ecology
- Xi says China 'unstoppable' in parade opening speech
- China's Communist rulers push party role before World War II anniversary
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Indonesia protests put spotlight on paramilitary police force
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
