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.
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://km-go-bsee-onbu.redcanaco.com
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Argentina hunts Nazi-looted painting revealed in property ad
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Cebu Pacific to launch direct flights between Cebu and Palawan
- BuCor chief calls for major reforms
- Prince Harry to visit UK on anniversary of queen's death
- NATO members to reach 2% defense spending goal this year
- Marcos inspects rock shed project in Benguet
- Venezuela deploys warships, drones as US destroyers draw near
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
