Budget deficit narrows in July, says treasury

THE Philippine government’s budget deficit narrowed in July from 2016 and from June, pulling the year-to-date tally to fall short of the target set for the month despite growth in revenue collections and expenditures.

The deficit hit P50.5 billion in July, marginally easing by 0.3 percent from a P50.7 billion gap a year earlier, data from the Bureau of the Treasury showed on Wednesday.