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, This news data comes from:http://redcanaco.com
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.
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.
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Guyana votes amid oil boom, Venezuela tensions
- Japan prince comes of age as succession crisis looms
- Group presses DA on delayed fertilizer subsidies
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Four children killed by parents in Dominican Republic — police
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Marcos orders lifestyle check on all govt officials amid flood projects probe
