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.
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., This news data comes from:http://suxgxobx.771bg.com
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Marcos, first lady visit Cambodia to boost ties
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Unnamed skeletons? US museum at center of ethical debate
- Motive probed for US church shooting that killed 2 children, injured 17
- Argentina hunts Nazi-looted painting revealed in property ad
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- 'Mockery of science': US experts blast Trump climate report
- Can a giant seawall save Indonesia's disappearing coast?
