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://705-888.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.
- Venezuela deploys warships, drones as US destroyers draw near
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Go seeks more support for Filipino athletes
- 9 dead in Ecuador after bus plunges into ravine
- Fire breaks out in Manila residential area
- Remulla pledges transparency and impartiality as Ombudsman
- Tourists dice with danger on Hanoi's train street
- House tackles P881B public works budget amid flood control anomalies
- Police officers face more charges in missing cockfight enthusiasts case
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
