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.
Budget shortfall narrows in July, This news data comes from:http://www.gangzhifhm.com
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
- South Korean President vows support to Koreans arrested in US immigration raid
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- Xi slams 'bullying' in speech to regional leaders at summit
- Robinsons to build 9-story office building in Davao City
- New mining law to balance profit, ecology
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- House holds budget review with 21 civil society organizations
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
