MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
Budget shortfall narrows in July
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
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., 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.
- Thailand ruling party moves to dissolve parliament
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Inflation up 1.5% in August
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Indonesian police officer fired over killing that sparked protests
- MPD announces road closures for Bar exams
- Duterte defense files more motions challenging ICC prosecutor
- Israel ups pressure on Gaza City as Trump talks post-war plan
- SSS rolls out historic pension reform program
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
