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Manila Bulletin devider Philippines devider Metro Manila devider Parañaque gov't cited for strengthening local government finance

Parañaque gov't cited for strengthening local government finance

Published Nov 21, 2025 11:47 am  |  Updated Nov 21, 2025 04:26 pm
The Parañaque city government has earned three recognitions for its outstanding performance in strengthening local government finance initiatives for Fiscal Year 2024 by the Department of Finance and the Bureau of Local Government Finance.
Parañaque City Mayor Edwin Olivarez said the city government was ranked 4th place in the yearly growth of local revenues a demonstrating remarkable economic dynamism, the city saw its locally sourced revenues grow by an impressive 21.48 percent from Calendar Year 2023 to 2024.
This growth rate is among the highest in the nation, pointing to a resilient, rapidly expanding local economy.
Olivarez said the city was ranked in 6th place for overall local source revenue by generating staggering P9.6 billion in local sources and has cemented its status as an economic powerhouse.
The achievement officially ranks it as the 6th-richest LGU in the Philippines, in nominal terms.
The city was also named 8th place for the ratio of local revenues to total income of 77.12 percent - the key award marks a significant milestone in financial independence.
This means that over three-quarters of Parañaque's operating income is generated from local sources—such as business taxes, real property taxes, and fees—rather than relying on the National Tax Allotment.
The mayor thanked the hard work of City Treasurer Anthony Pulmano for effective collection, highlighting Parañaque’s fiscal resiliency, enabling the city to sustain priority projects in healthcare, education, social services, and infrastructure.
Olivarez said the local government remains committed to further strengthening financial governance to ensure long-term growth and quality public service delivery.

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