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CEBU City’s role as an economic powerhouse in Central Visayas is getting renewed support from the national government.
Finance Secretary Ralph Recto has assured Mayor Nestor Dionson Archival Sr. of strong support from the Department of Finance (DOF) to advance growth and accelerate digital reforms in Cebu City.
Recto visited Cebu City Hall on Thursday where he was received by Archival, Vice Mayor Tomas de la Rama Osmeña, City Treasurer Emma Villarete and other officials.
During the meeting, the finance chief told city leaders that they can directly call on the DOF whenever support is needed to strengthen fiscal management, improve revenue systems or roll out key reforms.
Recto highlighted the role of the Bureau of Local Government Finance (BLGF) in implementing the Local Governance Reform Project, a nationwide initiative aimed at harmonizing fiscal policies and upgrading property valuation and appraisal systems.
Recto also encouraged Cebu City to fully utilize the Department of Information and Communications Technology’s eGov PH App, a platform that integrates essential government services in one mobile application.
The finance secretary also underscored the revenue potential of the Real Property Valuation and Assessment Reform Act (RPVARA), saying it will complement the increased National Tax Allotment (NTA) for local governments.
With these resources, Cebu City can expand its fiscal space and provide more services for its residents.
To support development projects, Recto reminded local governments of available financing from the Land Bank of the Philippines and the Development Bank of the Philippines. He said borrowing will also become more affordable as the Bangko Sentral ng Pilipinas eases interest rates.
Commending Cebu for its strong economic performance, Recto described the city as the driver of growth in Central Visayas, which has expanded by 7.3 percent over the past two years.
The figure is higher than the national growth rate of 5.9 percent, which the Marcos administration has touted as one of the fastest in Asia.
He said Cebu City’s global position as an outsourcing hub, trade gateway, and leading player in shipbuilding, furniture, and food processing industries will allow it to benefit further from the country’s robust economic outlook.
Recto was accompanied by DOF Undersecretary Maria Luwalhati Dorotan Tiuseco, Undersecretary Charlito Martin Mendoza, and Assistant Secretary Euvimil Nina Asuncion.
The team was in Cebu for the Visayas leg of the Philippine Economic Briefing (PEB), which gathered about 500 business leaders to discuss fiscal updates and investment opportunities.
During his visit, Recto also met with Bureau of Customs district collectors and is set to inspect both the Port of Cebu and the Bureau of Internal Revenue’s Regional District Office to review their operations and ongoing reforms.
