By Dolly Yasa
BACOLOD City – Negros Occidental Governor Eugenio Jose Lacson said the provincial government expects a lower budget in 2023 due to reduction of its National Tax Allotment (NTA) by more than P780 million.
There will be adjustments, especially in our financial assistance, Lacson said Tuesday.
The reduction in NTA budget allocations for all local government units by 14 percent, as reported by the Department of Budget and Management, was due to a drop in taxes collected by revenue agencies because of the COVID-19 pandemic.
Lacson said the provincial government is now preparing the proposed 2023 budget which will be submitted to the Sangguniang Panlalawigan by October 2022.
Hopefully, it will be approved before the year ends, he said.
Under Local Budget Memorandum 85, DBM said the NTA for all LGUs would drop to P820.27 billion in 2023, from P959 billion this year.
Lacson said he is constantly reminding the Economic Enterprise Development Department to open the Food Terminal, saying its earnings will be an additional income for the provincial government.
The provincial government is also earning an income from the rent of Capitol property by the Ayala Mall, as well as its Cyber Center.
It also manages the Mambukal Mountain Resort in Murcia, the highest revenue earner in the province and the Negros Residences in Bacolod City.