Some 52 percent or 75 Philippine cities are lagging when it comes to their own-source revenues in 2014, data from the Department of Finance (DOF) released on Wednesday showed.
Out of the 144 cities in the country, 75 have an annual regular income below the national average of 30-percent as a ratio of locally sourced revenues to annual regular income.
The list compiled by the department showed that Makati City was the top in terms of revenues generated in 2014, with an annual regular income of P10,215,687,220 and a locally sourced income of P9,228,688,331 for a 90.3-percent ratio.
On the other hand, Marawi City gained the least with an annual regular income of P385,030,847 and a locally sourced income of P3,944,069 which translates into a 1-percent ratio.
– Jon Viktor Cabuenas/VS, GMA News