Manila Mayor Francisco “Isko Moreno” Domagoso declared the city’s financial “comeback” during his State of the City Address on Wednesday, citing gains made after inheriting P14.6 billion in unpaid obligations.
He said the city has already paid P7.8 billion of the debt, improved revenue collection efficiency to 90.3%, and increased total revenues by 24% to P19.2 billion.
Domagoso also reported a 332% rise in new business registrations, a 105% increase in renewals, and a surge in approved private construction investments from P2.7 billion to P9.3 billion.
He attributed the improvements to disciplined fiscal management, stronger tax collection, and his administration’s “Bilis Kilos 2.0” governance approach.
The mayor said the city’s financial recovery has allowed Manila to sustain social programs while shifting its focus from survival to long-term development.
Source: PhilNews24 | June 25, 2026
ISKO SAYS MANILA BOUNCED BACK FROM P14.6-B DEBT
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