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., This news data comes from:http://www.771bg.com
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.
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Israel military says controls 40 percent of Gaza City
- Nepal to block unregistered social media platforms – govt
- Marcos, first lady visit Cambodia to boost ties
- House bill seeks to regulate AI use
- Over 800 killed as quake rocks Afghanistan
- Thai court to rule on PM's fate after Hun Sen call leak
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Mexican drug lord faces life in prison after pleading guilty in US court
