Finance chief solicits help from LGUs

CEBU, Philippines - Government Units amid the projected increase in the budget deficit of the national government.

In his speech during the recently concluded annual general assembly of the Regional Association of Treasurers and Assessors in Region 7 (Regata7), Teves said LGUs support is needed to push a modest economic growth, despite the adverse of the global crisis on the domestic economy.

“LGUs have always posted surpluses, unlike the national government which is in constant budgetary deficit,” Teves said.

In fact, he said that LGUs posted a fiscal surplus of P34 billion last year while the national government incurred a deficit of P68 billion.

“This year, we are again counting on the contribution of the LGUs to keep our consolidated public sector financial position manageable despite the projected increase in the budget deficit of the national government to P250 billion,” he said.

Teves also asked LGU treasurers and assessors to boost their creativity and innovation, in order to improve their revenue performances for their respective local governments.

“We recognize your continuing efforts to look for financing options to support the development of your respective cities, municipalities and provinces,” the finance chief said.

Likewise, he said that the national government is also supporting LGUs partnerships with the private sector, which should result not only in sharing of resources but also in sharing of technical know-how and best practices.

He said treasurers and assessors need to be coordinated with their respective LGUs and the national government to fulfill their role of transforming the local governments into self-reliant communities.

“Your unity of purpose will ultimately guide you in treading the turbulent waters of local politics and high seas of national poverty,” Teves stressed.

“Our country is facing a tremendous challenge. We may hit our highest budget deficit in nominal terms this year. We may suffer our lowest economic growth in so many years,” he said.

Although, these difficulties Teves said are largely brought about to us by external forces, “we cannot allow the turbulent global winds to knock us over. We need to strengthen our domestic economy amid the global crisis by remaining focused on our common goal of improving the lives of our people.”

And when the global financial storm has passed, Teves said “We can be assured that the world will make way for a stronger and better Philippines.” —Ehda M. Dagooc