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://www.jyxingfa.com
Budget shortfall narrows in July
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- South Korean prosecutors indict Yoon's wife, former PM
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- SpaceX cancels Starship megarocket launch
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- President Marcos launches HD Hyundai Shipyard in Subic
- US strike marks shift to military action against drug cartels
- 100K Pakistanis flee amid flood threat
- Japan PM Ishiba bounces back in polls after election debacle
