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.jyxingfa.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.
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Applicability of zero-balance billing questioned
- Comelec defers BARMM district reconstitution
- Social pension eyed for indigent seniors
- Marcos halts flood control budget; new commission to investigate expected 'in 48 hours'
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- 15 companies vie for 'Sustainability Champions' award
- Putin and Modi in China for summit hosted by Xi
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
