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.
Budget shortfall narrows in July, This news data comes from:http://www.705-888.com
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Putin threatens to target Western troops in Ukraine
- Villanueva: Regularize contractual govt workers
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Marcos willing to submit to a lifestyle check
- SpaceX scrubs latest Starship launch due to bad weather
- US and European officials meet to discuss new sanctions on Russia
- Russia hits seat of Ukraine government in war's biggest air attack
- Mexican boxer Chavez Jr. released from prison pending trial
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
