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.
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://gyglfs.com
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Sarah Discaya grilled by Senate over alleged DPWH links
- Cusi charged over Malampaya deal
- Senate cites former Bulacan assistant district engineer in contempt
- Tokyo protests to Beijing over gas field in East China Sea
- Protesters storm Discaya compound, Sotto calls for calm
- Putin facing mounting pressure from the West
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Marcos signs law giving 99-year land lease to foreign investors
- 'I have no resentment,' says Torre after dismissal as PNP chief
