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., This news data comes from:http://gr.771bg.com
Budget shortfall narrows in July
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.
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- MMDA inks deal with DBM for G-3 program
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Japan PM decides to quit as opponents seek leadership election
- Escudero urges list of unfundable projects for 2026 budget
- Trump rebrands Department of Defense as 'Department of War'
- Remulla pledges transparency and impartiality as Ombudsman
- 'God's Influencer' to become first millennial saint
- PH to see ‘blood moon’ Sept. 7-8
