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, This news data comes from:http://www.erlvyiwan.com
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.
Budget shortfall narrows in July
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.
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Indonesia turns down ear-splitting 'haram' street parties
- Trump withdraws Kamala Harris's Secret Service protection
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- China is showing off its weaponry in a tightly controlled military parade
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- MMDA prepares for PH hosting of FIVB
- Motive probed for US church shooting that killed 2 children, injured 17
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
