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://771bg.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.
- Major social media sites back online in Nepal after deadly protests
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Putin lands in Tianjin for summit hosted by China
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Indonesian leader fires ministers of finance and security after deadly protests
- Indonesian finance minister's home looted as protest anger grows
- COA probes Iqbal on spending of P1.7B in one day
- Discayas must return money before seeking immunity – Remulla
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Thousands protest in Nepal over social media ban, corruption
