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, This news data comes from:http://redcanaco.com
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
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.
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Customs recovers 10 more Discaya luxury cars
- Group: Register for free PhilHealth medicines
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Nartatez rules out 'quota' arrests
- New mining law to balance profit, ecology
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- Marcos orders lifestyle checks on all government officials amid flood control probe
- DSWD program reduced hunger
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
