Saturday, July 6, 2019

Davao City now surpassed Cebu City in Locally-Sourced Income

Davao City made a giant leap in terms of locally-sourced income (LSI) as the de facto capital of Mindanao raised a whooping P1.3 billion increase in one year, government data shows.
Davao City now surpassed Cebu City in Locally-Sourced Income
The de facto capital of Mindanao raised a whooping P1.3 billion increase in one year
Davao City now surpassed Cebu City in Locally-Sourced Income
The de facto capital of Mindanao raised a whooping P1.3 billion increase in one year
Davao City made a giant leap in terms of locally-sourced income (LSI) as the de facto capital of Mindanao raised a whooping P1.3 billion increase in one year, government data shows. In 2017, Davao City's LSI had been recorded P3.5 billion, and it climbed up to P4.8 billion in 2018, surpassing Queen City of the South's income sourced-locally in the same year - P4.0 billion

Photo credit to the owner

Photo credit to the owner

Cebu City, on the other hand, increased around P296 million in LSI last year. Approximately 75% of Davao City's LSI last 2018 came from the city's total tax revenue. In the same year, Davao City's Internal Revenue Allotment (IRA) was P4.5 billion while Cebu City had P1.8 billion.

BY KEN TERRADO
Ken Terrado currently volunteers as one of the admins of Mindanao Economic Boom. He is also contributing for other blogs about developments. He likes to read Newsweek, Time Magazine, and international news.

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