Makati hits 82% of target revenue – Abby

MANILA, Philippines —  Makati has achieved 82 percent of its target revenue for 2025, earning P15 billion from collections in local and external sources, based on figures released by the city treasury office on Wednesday.

The city government aims to end this year’s books with revenues of P19 billion.

Makati collected P14.24 billion in revenues in April, earning over half of its target in February.

The city treasury office reported that business taxes for the first four months of the year reached P8.73 billion, an increase of seven percent during the same period in 2024.

Real property taxes collected have totaled P4.89 billion.

Fees, charges and economic enterprises taken from January to April amounted to P619 million.

From external sources, Makati received P397.87 million from the national tax allotment, P235.91 million from interest income and P129.60 million from shares from the economic zone.

Makati also registered 1,962 new businesses from January to May, attracting P28.25 billion in investment capital.

Mayor Abby Binay highlighted the city’s financial growth during nine years of leading the country’s financial center.

Annual revenues grew from P15 billion when she took office in 2016 to P24 billion in 2024.

“The city continues to enjoy a stable revenue base for the past nine years owing, in large part, to our willingness to harness technology to make our transactions with the business sector more convenient, efficient and transparent,” Binay said in a statement.