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., This news data comes from:http://redcanaco.com
Budget shortfall narrows in July
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.
- Harold Cabreros takes post as new OCD chief
- ‘New NBI chief must be career official’
- Lacson: House can't return proposed 2026 budget to Palace
- China displays its weaponry in a tightly controlled military parade
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- LBC Express Holdings top executive to retire in Oct.
- 'Pink and green' protests call for a reset in Indonesia
- DPWH told to build evacuation centers
- Marcos embarks on three-day state visit to Cambodia
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
