MAKATI has been ranked first among cities by the Department of Finance (DoF) for sustaining fiscal autonomy through local revenue sources and achieving the highest per capita spending for 2022 and 2023.
Mayor Abby Binay thanked the business community and residents for the city's financial success, crediting their trust and cooperation for Makati's robust economic growth. The DoF's Bureau of Local Government Finance presented seven awards to Mayor Binay at a ceremony held at Seda Manila Bay Hotel.
Makati ranked first in the highest ratio of local source revenues to total current operating income for 2022 and 2023, indicating its strong independence from external sources. The city also posted the highest per capita operating expenditure with P24,050 in 2022 and P23,995 in 2023.
Makati was also recognized as the second top city for local source revenues and for year-on-year revenue growth among highly urbanized cities in 2023. Mayor Binay highlighted the city's efforts to expand its revenue base through reforms, promoting efficiency in revenue collection and business processes.
As of August 2023, the city surpassed its revenue target, collecting P18.8 billion, led by business tax (P10.22 billion) and real property tax (P6.19 billion). Additionally, 3,900 new businesses registered, with a combined capital investment of P31.87 billion, while 34,771 businesses renewed their permits, recording gross sales of P1.87 trillion.
2023