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 Tax