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://052298.com
- Escudero says new lease law to make PH more appealing to investors
- House party leaders want to return proposed 2026 budget to Executive
- New law lets foreigner investors lease land for 99 years
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- 'Strangest' dinosaur covered in spiked armory — Scientists
- A summit and parade in China may signal a geopolitical shift
- Trump says he'll keep extending TikTok shutdown deadline
- Israeli forces seize nearly 0,000 in West Bank raid
