NegOcc lost P9.5 billion due to Covid-19
The economy of Negros Occidental lost an estimated P9.57 billion to the coronavirus disease (Covid-19) pandemic, Governor Eugenio Lacson said.
Because of the economic downturn, Lacson said the province’s priorities and its 2021 budget formulation shifted to more pressing concerns such as reducing business activity and public health and safety.
The Sanggunian Panlalawigan will soon start hearing the proposed P4.4-billion budget for 2021 after passing the measure on first reading on Tuesday. (https://bit.ly/3dKD2bN)
The 2021 budget, which includes P1,641,424,244 of personal services, P1,374,658,871 for maintenance and other operating expenses, P12 million for capital outlay; and P1,443,611,950 for the special purpose appropriations, is higher compared to the P4.2 billion this year.
The P4.4 billion is projected to be sourced income from tax revenues (P98,000,000), non-tax revenues (P380,357,719) and Internal Revenue Allotment (P3,993,337,346).