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://ant-ji-gjae-sba.redcanaco.com
- Comelec defers reconstitution of BARMM parliamentary districts
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Japan PM decides to quit as opponents seek leadership election
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Court rules on subdivision open spaces, road lots
- PNP chief Torre relieved from post — Palace
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Australia government condemns anti-immigration rally in Sydney
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
