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.
Budget shortfall narrows in July, This news data comes from:http://aj-pefl-ad-edy.ycyzqzxyh.com
- Putin meets Kim, praises North Korean troops in Russia
- WBO champ looms as Pacquiao’s next opponent
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Follow the trucks: Why investors are looking south of Metro Manila
- Harold Cabreros takes post as new OCD chief
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Australia's mushroom murderer faces victims' family in court
- China displays its weaponry in a tightly controlled military parade
- Thai opposition's kingmaking summit fails to back new PM
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
