The Capitol’s P23 billion budget for 2024 has been approved unanimously by the Cebu Provincial Board during its regular session on Wednesday, November 29.
The 2024 budget — the biggest recorded budget in Cebu’s history — is 14.4 percent higher than the approved 2023 budget of P20.15 billion.
Board Member Glenn Soco, who chairs the committee on budget and appropriations, gave the assurance that though the national tax allocation for Cebu next year will be below P6 billion, the province has more than enough regular and extraordinary sources of funds to cover the deficit.
“The budget is very lean but substantial because it provides for the regular programming items of the provincial government,” Board Member Soco said in his speech.
Under the 2024 budget, the Capitol allocates P12 billion for its annual investment plan, financing various development projects such as the P3.5 billion budget for road and bridge infrastructure; P3.5 billion for the improvement of Capitol-run hospitals; P3.3 billion for inter-LGU water system; and P500 million for construction of public buildings and other structures; among various others.
The 2024 budget is also expected to continually support Gov. Gwen Garcia’s efforts of further bringing economic prosperity down to the grassroots level through various flagship programs such as the Caravan of Services, Sugbo Negosyo, Sugbusog, Sugbo Kahanas — and as of late: Sugbo Merkadong Barato and the province-wide Sugbo School Feeding program.
The governor earlier defined the 2024 budget as a “budget of commitment” as it is a commitment to the Cebuanos that the provincial government will always be looking out for their welfare and benefit. | Sugbo News