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.
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://www.yamato-syokunin.com
- DPWH opens foreign-assisted projects to LGUs
- Japan PM decides to quit as opponents seek leadership election: reports
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Rubio says US warned France on Israel annexation moves
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- WorldSkills Asean Manila begins
- Customs recovers 10 more Discaya luxury cars
- Roxas matriarch, 91
