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.gyglfs.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.
- Israel warns Hamas to surrender or face 'annihilation'
- Meralco expects drop in power rates this month thanks to stronger peso
- Dizon to order DPWH officials to submit courtesy resignation
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Rubio says US warned France on Israel annexation moves
- Comelec upholds cancelation of Duterte Youth registration
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- SC clarifies rules on land ownership
- Peace efforts in limbo as Kyiv mourns 23 dead
- Marcos names acting Ombudsman
