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://gyglfs.com
- GoTyme gives customers 20 free InstaPay transfers per month
- 'Mockery of science': US experts blast Trump climate report
- No winner in lotto draws for Aug 28
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Senate cites former Bulacan assistant district engineer in contempt
- Nepal PM resigns after deadly protests sparked by social media ban
- Customs officials, employees who aided Discayas will not be spared — Customs chief
- US appeals court finds Trump's global tariffs illegal
- A summit and parade in China may signal a geopolitical shift
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
