Govt budget

The government targeted an 8.4 percent increase in total revenue collections to P184.62 billion in July from P170.25 billion a year earlier.

Collections by the Bureau of Internal Revenue are expected to show an 11.7 percent rise yearon-year to P131.30 billion from P117.44 billion, while Bureau of Customs collections are seen growing 26.6 percent from P30.98 billion.

Non- tax revenues, however, could plunge 37.5 percent yearon- year to P12.66 billion on lower revenues from the Bureau of Treasury, fees and charges, as well as other income, including foreign grants.

The Treasury bureau’s income is expected to drop to P3.37 billion in July from P9.06 billion a year earlier.

Income on fees and charges is also allowed to decline to as much as P3.79 billion, while the government expects lower revenue from other sources of income, including foreign

Expenditure to rise on LGU allotments, subsidies, etc

Expenditure, on the other hand, is programmed to swell 50.4 percent to P332.36 billion in July from P220.91 billion a year earlier, with the bulk, or P287.35 billion, going into allotments to local governments, tax expenditures, subsidy, equity, net lending and others.

Data showed that interest payments could widen by 92.02 percent year- on- year to P45.01 billion in July.

Yr-to- date deficit

July, the cumulative budget gap year is expected to reach P302.209 billion, or 76 percent wider than the P170.98 billion recorded a year earlier, but 37 percent below the

The national government has set P482.08 billion for 2017, equivalent to 3 percent of the country’s gross domestic product.