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.
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://erlvyiwan.com
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Search for survivors after Afghan earthquake kills 800
- DBP launches P50M program for education
- PH eyes global partners in biggest railway project
- PH, Japan conduct search and rescue exercises
- One in four people lack access to safe drinking water – UN
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Eala kicks off US Open campaign, aims for breakthrough win in New York
