Govt deficit drops as revenues surge

Sep 01, 2023 12:31 am

THE national government's budget deficit narrowed in July from a year earlier as revenue growth significantly outpaced that for spending, the Bureau of the Treasury reported on Thursday.

The P47.8-billion shortfall, down from P86.8 billion a year earlier, was said to be the result of '33.40-percent higher growth in revenue collection versus the 16.22-percent increase in government expenditures.'

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