MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday., This news data comes from:http://www.redcanaco.com
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.
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.
- Escudero urges list of unfundable projects for 2026 budget
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Marcos to youth: Help in nation-building
- Discaya companies' licenses revoked for bid-rigging
- Pump prices increase for 2nd straight week
- Putin threatens to target Western troops in Ukraine
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Indonesia protests put spotlight on paramilitary police force
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
