STRONG REVENUE PICKUP

June’s revenue intake of 1.75 trillion pesos was 87 percent up on the previous July of 9.3 percent in real terms, comfortably ahead of inflation for the 23rd month running in the longest streak of the past decade. Export duties were the weakest link, only rising 44.2 percent (import duties 77 percent). The revenue haul so far this year, is close to 14 digits at 9.9 trillion pesos, 71 percent more than the first seven months of 2021