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://gl-gloo-yvc-ael.771bg.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.
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Roxas matriarch, 91
- Venezuela builds up border security over US warships
- Gomez-Estoesta named court administrator by Supreme Court
- Modi: India, Japan to 'shape the Asian century'
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- ‘Gomez ignorant of how media works’
- Trump: Many Americans ‘like a dictator’
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
