MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
Budget shortfall narrows in July
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
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., This news data comes from:http://www.gangzhifhm.com
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Marcos names Dizon as DPWH secretary
- Thai cannabis-championing tycoon takes office as PM
- Australia expels Iran ambassador over antisemitic attacks
- Marcos urged to raise WPS resolution at UN
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- PH to host seafarers’ welfare forum
- Russia hits seat of Ukraine government in war's biggest air attack
