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.
Budget shortfall narrows in July, This news data comes from:http://gangzhifhm.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.
- Thailand ruling party moves to dissolve parliament
- Alice Guo faces new cases over POGO land
- Hopes fading for Putin, Zelenskyy peace summit
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- North Korea's Kim in China ahead of massive military parade
- Israel military says controls 40 percent of Gaza City
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- China races to build world’s largest solar farm
- Pagasa monitors LPA off Cavite, may still become tropical depression
