BACOLOD City – The city government here is eyeing an annual budget of P3 billion for 2020.
Mayor Evelio Leonardia said that he will submit to the Sangguniang Panlungsod his request for the passage of an appropriation ordinance to the proposed 2020 budget.
The proposed budget is 19 percent higher, or P480 million more than the budget in 2019.
According to Leonardia, more than half of the proposed budget will be sourced out from the local funds, real property tax and business registration in the equivalent of 52 percent.
He added that they have broken the very long-term dependency on the Internal Revenue Allotment (IRA), which now constitutes only 45 percent of the total proposed budget.
Leonardia considered the budget for next year as one of the highest increases in the local budget history.
He said that his administration’s leadership has consistently raised the city’s financial position, billion by billion.
“The local income is now bigger than the IRA because the economic machineries in the city are moving very fast. That is why, the city has been awarded by the Manila Times as business friendly city,” said Leornardia.
“We have created a climate conducive and very healthy for business to grow,” he added./PN
