THE CEBU Provincial Board has approved the P20.15-billlion annual budget for 2023 and this means an allocation of P10 billion for development projects, among others, which is about P9-billion more of the minimum budgetary requirements under the law for development funds.
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| Cebu Governor Gwendolyn Garcia |
According to the chairman of the Committee on Budget and Appropriations, 6th District PB Member Glenn Anthony Soco, this is a “remarkable and most historic of annual budgets passed by the Cebu Provincial Board.”
He said the passage of the budget shows of Governor Gwendolyn Garcia’s commitment to maximize Cebu’s economic potential by continuing its major infrastructure projects such as roadworks, health and medical facilities and other public health services, water systems, bulk water and distribution facilities, among other vital projects to improve the way of life and living of the Cebuanos.
“It gives emphasis to the sustainability of successful programs such as Sugbo Negosyo, Sugbo Kahanas, Sugbusog, Enhanced Countryside Development, and other food sufficiency programs,” Soco said.
“What is salient about this budget is that despite the National Tax Allocation's projected reduction by 18 percent, our budget will increase by at least 10 percent from its current year’s budget. So we are projecting an increase in local income,” Soco added.
The annual budget for 2022 was pegged at P18.3 billion. (EEV)
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