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://jyxingfa.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.
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Putin and Modi in China for summit hosted by Xi
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Roxas matriarch, 91
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Discaya’s construction companies competed against each other during biddings
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- FBI raids home of Trump critic, former adviser
- No winner in lotto draws for Aug 23
