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.
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://www.705-888.com
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- SSS rolls out historic pension reform program
- Nepali court: Hindu holy men's nudity not obscene
- Manila mayor warns against mobs, orders police to maintain peace and order
- Konektadong Pinoy Bill has lapsed into law — Palace
- Comelec to resume BARMM polls ballot printing Thursday
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
