PH July budget deficit widens 462% to P 106.3B

MANILA, Philippines — The government’s budget deficit ballooned by 461.7 percent to P106.3 billion in July from P18.9 billion last year as a sharp ramp-up in spending outpaced subdued revenue growth.

Total revenues modestly rose 2 percent to P482.3 billion from P472.3 billion.

READ: Gov’t budget gap widened in June but still within 2026 target

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Tax collections climbed 7 percent to P452.7 billion from P423 billion, while nontax revenues contracted by 40 percent to P29.6 billion from P49.3 billion.FEATURED STORIES

PH July budget deficit widens 462% to P 106.3B

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