Cebu City ‘unable’ to meet P50 billion budget for ‘23

SunStar Publishing Inc.

CEBU City is still a few years away from realizing Mayor Michael Rama’s “Singapore-like” dream. With only two months left in 2023, the City Government has yet to collect its target annual budget of nearly P50 billion.In an interview with SunStar Cebu on Tuesday, Oct. 24, 2023, City Treasurer Mare Vae Reyes said the City Treasurer’s Office has collected a gross amount of P7,556,320,087.76 as of October.

Reyes said they are positive about the City collecting more in net income this year compared to last year.Based on their data, the CTO collected roughly P7 billion in net income for the entire 2022. “There’s still November and December and we expect to collect more RPT in December… For Cebu City, the income is always increasing except during the time of the pandemic when it decreased substantially, especially business taxes.

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