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., This news data comes from:http://www.gangzhifhm.com
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
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- DMW: 19 distressed OFWs return home from Jeddah
- Sotto files bill to amend party-list system
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- CFO moves office from QC to Pasay
- Trump moves to cut more foreign aid, risking shutdown
- Indonesia, US and allies launch joint military drills
- Nartatez rules out 'quota' arrests
- Comelec probes 15 contractors for illegal campaign donations
- Police officers face more charges in missing cockfight enthusiasts case
