Misamis Occidental ranks no. 5 in local revenue growth among Philippine provinces

 



Misamis Occidental has emerged as the fifth-highest province in local revenue growth in the Philippines for 2023. The province achieved an impressive year-on-year growth rate of 66.49% in local source revenues for the fiscal year 2023.

This remarkable performance was honored with a prestigious national award from the Bureau of Local Government Finance (BLGF) during the 37th Anniversary Stakeholders’ Recognition ceremony in Manila on October 9, 2024, recognizing it as one of the top five provinces in the country for the highest increase in locally sourced income.

“Through our strong commitment to effective fiscal management, we have achieved significant growth in our local revenues, totaling 94.74%,” said Governor Henry S. Oaminal. “I extend my heartfelt thanks to the hard work and dedication of our provincial environment officials and employees,” he added.

Under his leadership, Governor Oaminal proudly received the BLGF award for Outstanding Growth in Local Revenues, presented by Department of Finance Secretary Ralph G. Recto. Ranking among the top five provinces for year-on-year growth in local income for FY 2023, Misamis Occidental continues to set a benchmark for excellence.

The BLGF Award highlights the governor's commitment to economic development and innovative strategies for increasing local revenues. With a continued focus on teamwork, the administration aims to further enhance the region's financial landscape, benefiting local communities and promoting sustainable growth.

The top ten provinces recognized for their local revenue growth include Negros Occidental, Camarines Sur, North Cotabato, Nueva Vizcaya, Misamis Occidental, Zambales, Palawan, Nueva Ecija, Sorsogon, and Davao Oriental.

This recognition of nationally ranked top-performing local government units reinforces the importance of strengthening local government finance for fiscal years 2022 and 2023, as outlined in BLGF Memorandum Circular 017-202, dated August 19. (SN/PGMO)

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