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, This news data comes from:http://jyxingfa.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.
- MPD announces road closures for Bar exams
- France seized by fears of new political crisis
- Comelec upholds cancelation of Duterte Youth registration
- Portugal mourns after Lisbon streetcar accident kills 15
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- NBI starts own inquiry of DPWH contracts
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- House justice panel to probe US' extradition request for Quiboloy
- US woman charged with registering her dog to vote
