‘Ba­colod rev­enue gen­er­a­tion im­proved’

Sun Star Bacolod - - Top Stories - BY MERLINDA A. PE­DROSA

“BE­CAUSE the bud­get is an eco­nomic indicator, it shows we are catch­ing up.”

This was stressed by Ba­colod City Mayor Eve­lio Leonar­dia yes­ter­day af­ter the City Coun­cil ap­proved the P2.52 bil­lion an­nual bud­get for 2019 dur­ing the reg­u­lar ses­sion on Mon­day.

Leonar­dia said he is thank­ful to Vice Mayor El Cid Fa­mil­iaran and the mem­bers of the City Coun­cil for the ap­proval of the 2019 bud­get.

The 50 per­cent of the bud­get will come from the In­ter­nal Rev­enue Al­lot­ment (IRA) amount­ing to P1.26 bil­lion and the lo­cal sources at P 1.258 bil­lion.

“It’s the first that we have 50-50 in terms of the com­po­si­tion of the IRA and the lo­cal in­come. If you go back 20 years ago or so, we are very de­pen­dent on IRA,” Leonar­dia said.

He said it only shows that Ba­colod by it­self al­ready im­proved so much in terms of rev­enue gen­er­a­tion where it reached the level of IRA.

“Be­cause bud­get is an eco­nomic indicator, it shows that Ba­colod is grow­ing, it’s not just grow­ing, but its grow­ing rapidly as we had en­vi­sioned even when we were cam­paign­ing three years ago to cre­ate a busi­ness en­vi­ron­ment that will not just make busi­ness grow but to make busi­ness grow rapidly,” he added.

The mayor pointed out there’s an in­crease in the city’s busi­ness regis­tra­tion, from 18,000 in the pre­vi­ous ad­min­is­tra­tion to 23,000.

“That is an in­dis­putable indicator that busi­ness in Ba­colod has grown,” he said.*

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