PB approves P15 billion Capitol budget

CEBU, Philippines — The Cebu Provincial Board passed on third and final reading the P15 billion annual budget of the provincial government for the year 2021.

Board Member Glenn Anthony Soco, chairperson of the Committee on Budget and Appropriations, said the budget was unanimously approved during yesterday’s regular session.

 "The Annual Budget is considered as a vital component of the Province’s economic recovery. A major feature of the budget is the development fund which comprises 55% of the total budget or a consolidated amount of P8.2 billion" Socco said on his budget message.

The P15 billion budget next year is 25% higher than the P12 billion this year.

Infrastructure projects like road concreting, bridges, waterworks systems, port developments, among others are among the priority expenditures earmarked in the annual appropriations.

"It is the right investment in the right direction which would speed up our economic recovery.  Indeed, the province aims to return to its promised path and direction in bringing forth physical, social and economic developments to its citizens" Soco said.

A total of P2.9 billion was appropriated for general public services; P6.2 billion for social services and P5.8 billion for economic services. — FPL (FREEMAN)