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., This news data comes from:http://jyxingfa.com
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.
- Protesters storm Discaya compound, Sotto calls for calm
- House starts flood control probe
- More funding sought for sports commission
- Trump escalates crackdown threats with Chicago 'war' warning
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Trump moves to cut more foreign aid, risking shutdown
- DMW: 19 distressed OFWs return home from Jeddah
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
