Xinhua, Manila :
The Philippines’ budget deficit hit 86.4 billion pesos (roughly 1.62 billion U.S. dollars) in July this year, up 71 percent compared to the same period of last year, according to a new released Philippine Bureau of Treasury statement on Wednesday.
The figure showed the bureau posted its highest nominal spending for the year in July at 328.1 billion pesos (roughly 6.16 billion U.S. dollars), or 34 percent higher than the same period of last year, while total revenues in July reached 241.7 billion pesos (roughly 4.54 billion U.S. dollars), or 24 percent from the same period of last year.
Cumulative budget deficit for January to July amounted to 279.4 billion pesos (roughly 5.23 billion U.S. dollars), or 74.4 billion pesos (roughly 1.39 billion U.S. dollars) more than the previous year, the bureau said.
The Philippines’ budget deficit hit 86.4 billion pesos (roughly 1.62 billion U.S. dollars) in July this year, up 71 percent compared to the same period of last year, according to a new released Philippine Bureau of Treasury statement on Wednesday.
The figure showed the bureau posted its highest nominal spending for the year in July at 328.1 billion pesos (roughly 6.16 billion U.S. dollars), or 34 percent higher than the same period of last year, while total revenues in July reached 241.7 billion pesos (roughly 4.54 billion U.S. dollars), or 24 percent from the same period of last year.
Cumulative budget deficit for January to July amounted to 279.4 billion pesos (roughly 5.23 billion U.S. dollars), or 74.4 billion pesos (roughly 1.39 billion U.S. dollars) more than the previous year, the bureau said.
