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.
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., This news data comes from:http://redcanaco.com
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Marcos names Dizon as DPWH secretary
- PH economic losses hit 100B from corruption in flood control projects
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- ‘New NBI chief must be career official’
- 1.2K pass Electrical Engineers exam
- Anutin elected as Thailand's new prime minister
