Gov’t deficit surges more than five times to ₱106.3B in July

National Government’s July deficit jumped from ₱18.9 billion a year ago as spending growth outpaced revenue growth.

The National Government’s budget deficit surged to ₱106.3 billion in July, more than five times the ₱18.9 billion recorded a year earlier, as spending growth outpaced revenue growth.

The Bureau of the Treasury (BTr) said Thursday that the July shortfall pushed the year-to-date deficit to ₱893.1 billion, 13.85% higher than the ₱784.4 billion recorded in the first seven months of 2025.

Government revenues in July rose 2.12% to ₱482.3 billion from ₱472.3 billion a year earlier. Expenses, meanwhile, jumped 19.82% to ₱588.6 billion from ₱491.2 billion.

For the first seven months, revenues reached ₱2.87 trillion, up 5.05% from ₱2.74 trillion a year earlier, while disbursements climbed 7.02% to ₱3.76 trillion from ₱3.52 trillion.

The wider deficit came as government spending accelerated on social assistance programs, AFP modernization and foreign-assisted rail projects, while revenue growth remained more modest.

READ: