MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
Budget shortfall narrows in July
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.redcanaco.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.
- Thai cannabis-championing tycoon takes office as PM
- NATIONAL ARTIST'S HOMETOWN
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Transport chief pushes shame campaign vs errant motorists
- PH has chance of getting UNSC seat - Manalo
- Harold Cabreros takes post as new OCD chief
- Israeli strikes in Yemen's capital kill six, Houthis say
- ChatGPT to get parental controls after teen's death
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Roxas matriarch Judy Araneta-Roxas, 91
