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.
Budget shortfall narrows in July
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://ub-heqj-rs-op.aichuwei.com
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- North Korea test-fires two 'new' air defense missiles
- Seoul says over 300 South Koreans held in US battery plant site raid
- Marcos to attend UN meet in New York in Sept- Palace
- Seoul says fired warning shots after North Korean troops crossed border
- Trump moves to limit US stays of students, journalists
- Marcos wants subpoena power for body investigating flood projects
- Trump hails Department of War rebrand as 'message of victory'
- What to know about Indonesia's nationwide unrest over lawmakers' perks
