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.
Budget shortfall narrows in July
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., This news data comes from:http://redcanaco.com
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
- EU massive fine against Google draws Trump threat
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Iran says open to US nuclear talks, rejects missile curbs
- US church shooter 'obsessed with idea of killing children'
- President Marcos to attend 80th UN General Assembly in New York
- 9 dead in Ecuador after bus plunges into ravine
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Maduro hits ‘illegal’ US troops deployment
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
