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://www.aichuwei.com
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Open mic caught Xi, Putin discussing immortality
- De Lima bucks Lacson's budget 'experiment
- Co out of country for medical reasons
- ‘New NBI chief must be career official’
- Marcos inspects rock shed project in Benguet
- Opponents of Japan PM seek leadership contest
- Budget shortfall narrows in July
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Israel expects 1 million Gazans to flee new offensive
