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://www.052298.com
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- No winner in Ultra, Megalotto draws for Aug 29
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- 'God's Influencer' to become first millennial saint
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Hopes fading for Putin, Zelenskyy peace summit
- Putin meets Kim, praises North Korean troops in Russia
