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., This news data comes from:http://052298.com
Budget shortfall narrows in July
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Cusi charged over Malampaya deal
- Prince Harry to visit UK on anniversary of queen's death
- SEARCH WARRANT
- Gasoline, diesel price hikes seen next week
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Oil firms to raise fuel prices this week
- IBP to form good governance panel
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Recto: No exemption for US tech firms from digital tax
