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., This news data comes from:http://www.yamato-syokunin.com
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.
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.
- North Korean leader inspects new missile factory ahead of visit to China
- Magnitude 5.3 earthquake rocks Dinagat Islands
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Trump moves to end US tariff exemption for small packages
- Maduro calls for dialogue hours after Trump’s threat
- Kris Aquino is alive, says friend amid reports of death
- India will not 'bow down,' trade minister says after US tariffs
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- ‘New NBI chief must be career official’
