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.
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., This news data comes from:http://erlvyiwan.com
Budget shortfall narrows in July
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- CFO moves office from QC to Pasay
- China is showing off its weaponry in a tightly controlled military parade
- Fire breaks out in Manila residential area
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- PH has chance of getting UNSC seat - Manalo
- Ballots for oct 13 BARMM polls completed – Comelec
- Suspect in 2012 killing of Dutch aid worker freed
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
