Manila revenues on target

Manila Mayor Lito Atienza has expressed confidence that the city government would be able to meet its revenue target for fiscal year 2003.

"While the national economic picture is a bit bleak, things are definitely looking up in Manila," Atienza said.

With the better business environment and the entry of more investors, Atienza said they expect to have substantial increase in the city’s revenue. The Manila City Council has approved the 2003 Executive Budget amounting to a total of P5.835 billion, which is just higher by 4.5 percent, or P250 million, than this year’s budget.

For several years, Atienza said, the city government’s development plan has been anchored on conservative revenue targets so resources are not stretched beyond their limits. – Cecille Suerte Felipe