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.
Budget shortfall narrows in July, This news data comes from:http://ycyzqzxyh.com
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.
- BuCor chief calls for major reforms
- Putin threatens to target Western troops in Ukraine
- Duterte lawyer cites former president's failing health, urges return to PH after ICC postpones hearing
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- UN chief argues that investing in fighting poverty instead of wars would make a more secure world
- Applicability of zero-balance billing questioned
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Xi says China 'unstoppable' in parade opening speech
- Heavy rains flood parts of Metro Manila anew
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
