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://cun.erlvyiwan.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.
- Japan PM Ishiba bounces back in polls after election debacle
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- North Korea's Kim in China ahead of massive military parade
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- US approves .5M in assistance to Nigeria to help address hunger
- Customs preparing report on Discayas’ 28 luxury cars
- Mass housing developers laud Pag-IBIG Fund
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
