Naga's proposed annual budget for next year swells up to more than 200%

CEBU, Philippines - If approved, City of Naga’s annual budget for next year will be P535 million, an increase of more than 200 percent from this year’s P200 million.

City administrator Arthur Villamor said a huge chunk of this budget will be taken from the city’s local income. 

He said the city expects to get around P120 million as business tax alone from Kepco-Salcon Power Corporation, which started operation this year.

The city administrator also mentioned Sarimanok and Cemex Corp. as major contributors to the city’s increasing income.

From P8 million per month since May 2009, when the Department of Budget and Management started slashing its IRA amid the cityhood issue, the city also expects this to increase by at least 100 percent, being officially declared by the Supreme Court a city.

The annual budget was deliberated during a public hearing a few weeks ago, and is expected to be approved by the council within this month. (FREEMAN)