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://www.gangzhifhm.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.
- Lacson clears air over conflict with Marcoleta on flood control probe
- Nepali court: Hindu holy men's nudity not obscene
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Marcos opens Hyundai's shipyard in PH
- Malabon City honors partners
- La Niña may return but temperatures will remain high, UN says
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Australia halts logging for koala haven on eastern coast
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
