Cebu City wants P10.4billion budget in 2020
Mayor Edgardo Labella is eyeing an annual budget of P10,461,820,000 for 2020.
Labella submitted his budget proposal to the City Council Wednesday for appropriate action.
Bulk of the proposed budget next year or P4.8 billion was earmarked for general public services.
At least P2.9 billion was allocated for social services, including the financial aid for the senior citizens, while P700 million for debt servicing. (https://www.philstar.com/the-freeman/cebu-news/2019/10/18/1961230/city-pushes-p104-billion-annual-budget-2020#o7UKmkeHdXh0ZGxt.99)
Economic services get P508 million while P500 million was allocated as local development fund. At least P492 million will be spent as aid to the barangays. Disaster fund is P435 million while another P20 million was earmarked for miscellaneous expenses.
Labella said next year’s budget will be sourced from the city’s revenues, sales of the South Road Properties lots, and Internal Revenue Allotment.