The City of Manila has achieved a remarkable financial feat in 2023 by posting a surplus of over P3 billion, according to recent reports from the Commission on Audit (COA).
Manila was one of only two cities in the National Capital Region (NCR) to surpass this benchmark, alongside Pasig City.
Surpluses, which represent the difference between a city’s revenues and expenses, highlight strong fiscal management.
Manila’s surplus for 2023 reached P3.003 billion, while Pasig’s surplus was slightly higher at P3.025 billion.
These figures outperformed other major cities in NCR, including Quezon City, which posted a modest surplus of P19.438 million, and Makati City, with P73.528 million. Parañaque City also achieved a significant surplus of P2.54 billion.
Rep. Rolando “CRV” Valeriano, Chair of the House Committee on Metro Manila Development and representative of Manila’s Second District, noted the cities’ outstanding financial performance in a statement.
“Congratulations to Mayor Honey Lacuna-Pangan of Manila and Mayor Vico Sotto of Pasig for their exemplary financial management. Their cities have proven that effective governance can drive impressive economic results,” he said.
Manila's total revenue for 2023 amounted to P21.289 billion, with expenses at P17.462 billion, while Pasig City reported revenues of P15.837 billion and expenses of P11.919 billion.
Notably, both Manila and Pasig managed to achieve impressive surpluses during the first full year under their current leadership, as 2022 was partly under their predecessors.
Rep. Valeriano also highlighted that Manila and Pasig outpaced the provincial revenue leader, Bulacan.
With Manila’s revenues three times higher and Pasig’s revenues double that of Bulacan, it’s clear that these cities have firmly established themselves as economic powerhouses in the region.
In terms of specific spending, Manila allocated P1.165 billion in capital outlays for 2023.
Other notable figures included P79.437 million for calamity funds, P9.864 billion from tax revenues, P1.434 billion from non-tax revenues, and a national tax allotment of P4.6 billion.
The local government of Manila projects revenues of P25 billion for 2025.
This includes P16.823 billion in tax collections, P2.76 billion from non-tax revenues, and a national tax allotment of P4.249 billion.
A portion of Manila’s budget will also be directed toward senior citizens, with the Office of Senior Citizens Affairs receiving a budget of P1.78 billion to fund social amelioration programs and other services for the elderly.
As the city continues to thrive under the leadership of Lacuna-Pangan, Rep. Valeriano commended her commitment to effective governance and fiscal responsibility.