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.
Budget shortfall narrows in July
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://jyxingfa.com
- 'Ondoy'-level rains swamp Quezon City
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Marcos soon to create commission to probe flood control projects
- 25 countries suspend postal services to US over tariffs – UN
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- Robinsons to build 9-story office building in Davao City
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Australia expels Iran ambassador over antisemitic attacks
