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.
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.705-888.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.
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- PH, Australia, Canada hold joint sea drills
- 1.2K pass Electrical Engineers exam
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Chinese tourist city Sanya shuts down as typhoon intensifies
- 'No way' US troops can invade Venezuela, says Maduro
- No winner in Ultra, Megalotto draws for Aug 29
