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://ucy.redcanaco.com
- SSS pension reform program starts in September
- Trump wants to meet Norea Korea's Kim again
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Isko files raps over demolition of sports complex
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- Escudero says new lease law to make PH more appealing to investors
- Konektadong Pinoy Bill has lapsed into law — Palace
- Villanueva: Regularize contractual govt workers
- North Korea test-fires two 'new' air defense missiles
- Afghanistan earthquake kills more than 800
