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., This news data comes from:http://www.771bg.com
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.
- Afghan quake death toll surges to over 2,200
- Documents show New Zealand unease over Chinese warships in South Pacific
- Discaya says her family owns nine companies
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Customs preparing report on Discayas’ 28 luxury cars
- Portugal mourns after Lisbon streetcar accident kills 15
- Cusi charged over Malampaya deal
- MMDA prepares for PH hosting of FIVB
- Duterte lawyers take aim at ICC prosecutor
- Follow the trucks: Why investors are looking south of Metro Manila
