Sustain Makati’s fiscal stability – Abby
MANILA, Philippines — Makati Mayor Abby Binay, who is on her third and final term, yesterday underscored the need to sustain the city’s financial stability, transparency and fiscal responsibility to ensure continued delivery of services.
Binay attributed Makati’s ability to exceed revenue targets yearly without increasing taxes to strong revenue growth, strict auditing compliance and the trust of taxpayers.
As of May, the city had collected P15.65 billion in revenues, mostly from local sources.
Binay also highlighted the city council’s recent move to lower real property tax rates to attract more investors.
Recognized by the Department of Finance as the most fiscally autonomous city, Makati has received eight consecutive unmodified opinions from the Commission on Audit since 2017.
The stable revenue enabled the city to expand services, including launching of the Makati Life Medical Center and converting 518 public school classrooms into smart classrooms.
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