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.
Budget shortfall narrows in July
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., This news data comes from:http://pbackc.771bg.com
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Zelenskyy: Russia trying to 'wriggle out' of peace talks
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- Israel expects 1 million Gazans to flee new offensive
- PH Defense chief slammed for 'bad mouthing' China
- India to develop fighter jet engines with French company
- A summit and parade in China may signal a geopolitical shift
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
