MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
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., This news data comes from:http://redcanaco.com
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.
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Hontiveros pushes P15,000 salary hike for teachers
- Protesters storm Discaya compound for second straight day
- Marcos to create independent commission to investigate flood control anomalies
- 3 Luzon dams release water
- Kris Aquino is alive, says friend amid reports of death
- Denmark summons US envoy over 'attempts to influence' Greenland
- Tax bureau hunts down contractors over questionable flood control deals
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Israel tells residents to leave Gaza City ahead of offensive
