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://xmckldtv.aichuwei.com
- Mexican boxer Chavez Jr. released from prison pending trial
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- SpaceX cancels Starship megarocket launch
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Classes suspended in 10 Metro Manila cities due to rains
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- 25 countries suspend postal services to US over tariffs – UN
- US strike marks shift to military action against drug cartels
- Labubu fans flock to stores after launch of mini dolls
