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(From BusinessWorld (Philippines))
Byline: Felipe F. Salvosa II
The Bureau of Customs said yesterday it surpassed its July collection target by nearly 7%, in a development that bodes well for the government's bid to narrow the budget deficit.
Customs commissioner Napoleon L. Morales reported P16.456 billion in revenues for July, a little over P1 billion more than the P15.436-billion goal for that month. The July collection is also more than 50% higher than last year's take of P10.7 billion, data showed.