The government’s budget deficit jumped 43.8 percent in June to P215.5 billion from a year ago. Read more:
growth in expenditures that outpaced the 18.20-percent growth in revenue collection, the Bureau of the Treasury said Tuesday.
Revenue collection reached P290.3 billion in June, up by 18.20 percent or P44.7 billion from a year ago. The figure in the fist six months also improved 15.91 percent to P1.727 trillion and surpassed the target by 4.80 percent. The Bureau of Internal Revenue’s collection grew 8.90 percent or P14.2 billion to P173.5 billion in June and 9.76 percent or P100.8 billion to P1.132 trillion in the first half. Julito G. RadaCustoms collection soared 46 percent in June to P76.2 billion and marked 17 straight months of positive growth. The bureau’s cumulative revenue of P396.7 billion in the first half exceeded both the mid-year program and the previous year’s outturn by 9.98 percent and 31.47 percent , respectively.
Income collected and generated by the Bureau of the Treasury in June was at par with last year’s P20.8 billion. Meanwhile, its first-semester collection of P104.1 billion surpassed the previous year’s achievement in the same period by 27.54 percent or P22.5 billion and almost double the year-to-date program of P52.8 billion.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Government underspending reduces deficit | Bernadette D. NicolasTHE national government’s budget deficit for the first half of the year fell below program as the government missed its spending target for the period. The negative cash flow from January to June this year stood at P674.2 billion, lower than the programmed budget deficit of P828.7 billion by 18.64…
Read more »
City gov’t of Davao sets up health response unit against monkeypoxThe City Health Office (CHO) has created the Emerging and Reemerging Infectious Diseases Unit (ERID), which will be leading the emergency health response efforts in the event of a monkeypox outbrea…
Read more »
Las Piñas gov’t launches Chest X-Ray on WheelsThe Las Piñas City government launched the Chest X-Ray on Wheels as part of Mayor Imelda Aguilar’s “Tuloy Tuloy na Serbisyo sa Pangkalusugan” for the residents.
Read more »
Singapore hotel room rates hit six-year high as tourism recoversThe average room rate in June was S$238.32, the highest since September 2016, according to data from the Singapore Tourism Board.
Read more »
Marcos: P11.7B gov’t revenue seen from taxing digital service providersPresident Ferdinand “Bongbong” Marcos Jr. is seeking to impose tax on digital transactions which could generate P11.7 billion next year.
Read more »
Muntinlupa Mayor Biazon: City gov’t should be consulted on NBP land dev'tMuntinlupa Mayor Ruffy Biazon said the city government should be consulted and must be part of the planning regarding the development of the vast New Bilibid Prison (NBP) land located in Barangay Poblacion.
Read more »