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.
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., This news data comes from:http://www.redcanaco.com
Budget shortfall narrows in July
- Marcos declares holidays for 2026
- Kanlaon Volcano spews ash
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- DILG denies allegations that PNP chief fired over firearms deal
- Marcos to attend UN meet in New York in Sept- Palace
- Comelec probes 15 govt contractors over 2022 election donations
- US senators to reinforce 'partnership' with Taiwan
- India will not 'bow down,' trade minister says after US tariffs
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
