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
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., This news data comes from:http://www.gyglfs.com
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.
- Made in China? The remarkable tale of Venice's iconic winged lion
- Modi: India, Japan to 'shape the Asian century'
- Supreme Court urged to act on fake complaints
- Motive probed for US church shooting that killed 2 children, injured 17
- Senators Estrada and Villanueva deny getting kickbacks after former engineer tags them in House hearing
- Marcos suspends importation of regular, well-milled rice for 60 days
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Two dead as strong earthquake jolts Afghanistan
- 25 countries suspend postal services to US over tariffs – UN
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
