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.
Budget shortfall narrows in July, This news data comes from:http://771bg.com
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.
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Signal No. 1 up in 13 areas; Isang to leave PAR as tropical storm
- Gaza at 'breaking point,' says UN food agency chief after visit
- No winner in Grand, Megalotto draws for Aug 27
- China is showing off its weaponry in a tightly controlled military parade
- South Korea to ban mobile phones in school classrooms
- Go seeks more support for Filipino athletes
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- 1 in 4 people lack access to safe drinking water — UN
