THE country’s budget deficit more than doubled in November 2024, according to the latest data released by the Bureau of the Treasury (BTr). The budget deficit increased 128.38 percent to P213 billion in November 2024. This represented a growth of P119.7 billion from the P93.3 billion posted in November 2023.
THE country’s budget deficit more than doubled in November 2024, according to the latest data released by the Bureau of the Treasury .
Meanwhile, in terms of revenues, the data showed this only reached P338.3 billion in November 2024, a contraction of 0.61 percent or decline of P2.1 billion from the P340.4 billion in November 2023. “The increase in income tax can be attributed to the influx of taxpayers filing for their third Quarterly Income Tax Return on or before November 15 of the current taxable year,” it added.
Meanwhile, non-tax revenues declined P38.4 billion to P15.9 billion in November 2024 from P54.3 billion in November 2023. Non-tax revenues from other offices also declined 37.83 percent or by P4.9 billion to P8 billion in November 2024 from P12.8 billion in November 2023. “The notable expansion can be attributed to higher capital expenditures for road and defense infrastructure projects, social protection and education related programs, as well as personnel services requirements,” the BTr said.
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.
RLC Residences Wins Multiple Awards at Outlook 2024 and Carousell Property Awards 2024RLC Residences has been honored with several awards, solidifying its position as a leader in the Philippine real estate market. The brand received recognition for its commitment to offering premium homes that enhance living standards, with notable wins including Best Luxury Condo of the Year and Developer of the Year.
Read more »
688 Chemical Engineers Pass Licensure Exam in November 2024The Professional Regulation Commission (PRC) announces that out of 951 examinees, 688 passed the Chemical Engineers Licensure Examination given in multiple locations across the Philippines. The exam was conducted by the Board of Chemical Engineering.
Read more »
RESULTS: November 2024 Speech-Language Pathologists Computer-Based Licensure ExaminationPRESS RELEASE: A total of 153 out of 161 examinees passed the Speech-Language Pathologists Computer-Based Licensure Examination
Read more »
RESULTS: November 2024 Philippine Nurses Licensure ExaminationPRESS RELEASE: A total of 29,349 out of 34,534 examinees passed the November 2024 Philippine Nurses Licensure Examination. Congratulations!
Read more »
BSP: November 2024 inflation pegged at 2.2% to 3%Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Inflation quickens to 2.5% in November 2024Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »