Cebu City confident of hitting P8.9-B income target
CEBU CITY, Philippines — The Cebu City government has expressed confidence of achieving its target income close to P9 billion for 2020 despite the impact brought about by the Coronavirus Disease 2019 (COVID-19).
At a press conference on Monday, March 2, Cebu City Mayor Edgardo Labella said he was optimistic that the city government would be able to post P8.9-billion in revenues for 2020 amid the projected slowdown of economic and business growth due to COVID-19.
“We can achieve the target collection for this year of around P9 billion,” said Labella.
Diversified source of income
The mayor said the city had a diversified source of income, and that the impact of COVID-19 could only be minimal.
Labella cited revenues coming from taxes of the city’s service providers as one of largest contributors.
He also said that the city would be looking into plans on how to cushion the consequences brought about by the disease, particularly in the private sector.
The Cebu City government has posted P8.3 billion in income for 2019. For 2020, city officials earlier announced that they wanted to achieve a P8.9 billion target or roughly P600,000 more from the previous year./dbs
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