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.
Budget shortfall narrows in July, 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
- Guyana votes amid oil boom, Venezuela tensions
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- ChatGPT to get parental controls after teen's death
- North Korea's Kim in China ahead of massive military parade
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
