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.
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.
Budget shortfall narrows in July
- UK's mass facial-recognition roll-out alarms rights groups
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- New mining law to balance profit, ecology
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- N. Korea test-fires two 'new' air defense missiles
- Taiwan: China illegally deploying oil rigs in its waters
- Thai opposition's kingmaking summit fails to back new PM
- Puno seeks probe of anomalous projects ‘funders’
- Emma Tiglao crowned Miss Grand PH 2025
- Putin meets Kim, praises North Korean troops in Russia
