The Quezon City government is set to achieve an impressive milestone this year, with projected revenues reaching a staggering P21 billion. Mayor Maria Josefina “Joy” Belmonte recently shared this estimate, highlighting the city’s remarkable progress in revenue collection.
Under Belmonte’s leadership, the city’s revenue collection has experienced significant growth. In 2018, before Belmonte assumed office, Quezon City collected P16 billion in revenue. However, in just a year, the locally sourced revenue surged to P19.3 billion. As of October, the city had already collected P20.3 billion, showcasing a consistent upward trend in income generation.
Mayor Belmonte attributed this remarkable achievement to the dedication and efficiency of the City Treasurer’s Office and the Business Permits and Licensing Department. Their exemplary work has played a vital role in boosting revenue collection and ensuring the city’s financial stability.
The increased revenue has allowed the Quezon City government to allocate substantial funds for various sectors. A commendable 38 percent, equivalent to P13.4 billion, has been allocated to social services, emphasizing the city’s commitment to improving the lives of its residents. Additionally, P5 billion has been allocated for education, highlighting the city’s investment in the future of its youth. Furthermore, P3.4 billion has been earmarked for infrastructure development, fueling progress and enhancing the city’s overall infrastructure.
The City of Quezon has also received recognition for its exemplary financial management. The Commission on Audit has awarded the city a third consecutive unqualified opinion, the highest audit rating attainable for a local government unit. This recognition further solidifies Quezon City’s reputation for good governance and responsible financial practices.
Moreover, the city’s commitment to fostering a conducive business environment has yielded positive results. As a testament to its pro-business stance, the city has registered an impressive 10,000 new businesses this year alone. This brings the total number of registered businesses in Quezon City to over 68,000, showcasing the city’s vibrant and thriving business landscape.
The significant increase in revenue collection and the city’s prudent financial management have paved the way for numerous initiatives and programs aimed at improving the quality of life for Quezon City residents. These achievements not only reflect the city’s remarkable progress but also underscore the commitment of Mayor Belmonte and her administration to prioritize the welfare and development of the community.
In conclusion, the Quezon City government’s revenue collection has reached new heights, with an estimated P21 billion set to be collected this year. This remarkable achievement is a testament to the city’s efficient financial management and commitment to fostering economic growth. With strategic investments in social services, education, and infrastructure development, Quezon City is well-positioned for continued progress and prosperity.
Source: The Manila Times
