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.
Budget shortfall narrows in July, This news data comes from:http://www.gyglfs.com
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.
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.
- China 'unstoppable', says Xi with Kim, Putin at his side
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- IBP forms committee on good governance to probe corruption
- Trump withdraws Kamala Harris's Secret Service protection
- Discaya says her family owns nine companies
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- Trump moves to limit US stays of students, journalists
- 'Strangest' dinosaur covered in spiked armory – scientists
