Manila: The national government's revenue collections reached PHP2.87 trillion from January to July this year, marking a 5.05 percent increase compared to the PHP2.73 trillion recorded during the same period last year, the Bureau of the Treasury (BTr) reported.

According to Philippines News Agency, the BTr's latest cash operations report revealed that tax revenues formed the bulk of these collections, totaling PHP2.59 trillion, which is a 5.66 percent rise from the previous year. The Bureau of Internal Revenue (BIR) saw its collections climb by 5.31 percent to PHP1.99 trillion, attributed to enhanced taxpayer services that improved compliance and boosted collection efforts.

The Bureau of Customs (BOC) also recorded a 7.25 percent increase in collections. By the end of July, the BOC's revenue reached PHP583.4 billion, driven by a notable rise in duties and value-added tax (VAT) collection from imports, largely due to a stronger US dollar and elevated crude oil prices. The BTr credited sustained collection to improved customs procedures, heightened border protection measures, digital transformation initiatives, and stronger collaboration with stakeholders.

Non-tax revenues stood at PHP276.1 billion. For the month of July alone, revenue collections amounted to PHP482.3 billion, showing a 2.12 percent growth from last year's PHP472.3 billion. The BIR's collection for July was PHP358.4 billion, an increase from last year's PHP335.3 billion, while BOC collections rose by 7.48 percent to PHP91.6 billion.

Total government expenditures from January to July reached PHP3.76 trillion, surpassing the PHP3.52 trillion recorded in the same period last year by 7.02 percent. In July, disbursements accelerated to PHP588.6 billion, or 19.82 percent higher than the PHP491.2 billion from the previous year.

The BTr attributed this growth to the implementation of various social assistance programs under the Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT) framework, aimed at mitigating the impact of the Middle East conflict, as well as disbursements for capital outlay projects under the Revised Armed Forces of the Philippines Modernization Program of the Department of National Defense. Additionally, direct payments made by development partners for foreign-assisted rail transport projects of the Department of Transportation contributed to the expansion.