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://gyglfs.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.
Budget shortfall narrows in July
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.
- One in four people lack access to safe drinking water – UN
- Tourists dice with danger on Hanoi's train street
- Israel tells residents to leave Gaza City ahead of offensive
- Zelenskyy meets European leaders on Ukraine security guarantees
- China is showing off its weaponry in a tightly controlled military parade
- US agents arrest 475 in Hyundai-LG plant raid
- Motorist in San Juan traffic spat faces sanction
- South Korean prosecutors indict Yoon's wife, former PM
- Head of main US health agency abruptly dismissed
- Workers urge Marcos to stop corruption by banning political dynasties
