DavNor a billionnaire province by 2014

Subscribe Now June 22, 2013 at 06:43am

The country's 'Banana Capital' will be joining the league of billionnaire provinces as it will exceed the P1-billion mark in its annual budget next year.

Governor Rodolfo del Rosario announced that the Province of Davao del Norte will hit a major breakthrough in its annual budget, with the projected income of P1,082,601,958.10 in 2014.

The proposed budget was endorsed by the Provincial Development Council (PDC), during its regular meeting last June 19 at the Bulwagan ng Lalawigan.

“Billionaryo na po ang ating probinsya by next year,” del Rosario told members of the local media at the Kapihan sa Kapitolyo yesterday.

The Governor said the bulk of the 2014 budget will still come from the internal revenue allotment (IRA) share of the province, which contributes about 80 percent of the total budget of the province.

He explained the province is yet highly dependent on the IRA since it has no taxing power, unlike the cities.

However, he said the province is trying make up for the inadequacy by improving its local income through strengthening of its economic enterprise development.

To beef up local revenue source, the province is further improving its new P242-million Davao del Norte Sports and Cultural Center to lure more people to use the facility.

“We will encourage more people to appreciate and use the facility for it to earn more income,” he said.

Del Rosario said more entertainment facilities will be put up in the area to increase the number of users and visitors.

He also identified the three provincial hospitals as among the local income generating facilities.

The province shall continue to allocate P28 million for the PhilHealth coverage of poor families in 2014.

“We expect these indigent families to avail of the services of our three provincial hospitals, thereby creating more income for the province,” he said.

The PDC also approved the reprogramming of the savings in the five percent calamity fund of the province from 2011 and 2012 in the amount of P23.25 million, which will now form part of the 2013 annual budget of the province in the amount of P963,497,763.

Source: pia.gov.ph

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