CAGAYAN de Oro City ranked second highest in locally sourced revenue (LSR) generated by a local government in Mindanao last year, data by the Bureau of Local Government Finance (BLGF) showed.
Cagayan de Oro City under Mayor Rolando ‘Klarex’ Uy’s administration generated P3.15 billion in local revenue in 2024 to rank second among the top 10 Mindanao local governments topped only by Davao City which generated P5.76 billion in local revenue in the same year.
Locally sourced revenue refers to income generated by local governments through taxes, fees, charges and receipts from businesses and enterprises. Data by the Philippine Statistics Authority (PSA-10) regional office also showed that Cagayan de Oro City’s gross domestic product (GDP) grew by 5.8 percent or P276.86 billion in 2023.
In his Facebook post, Sen. Juan Miguel Zubiri congratulated all top performing Mindanao local governments and cited in particular Cagayan de Oro City’s robust economic performance. ‘Cagayan de Oro City ranked no. 2 (in local revenues) despite having a smaller land area than most of the top 10 Mindanao local governments,’ Sen. Zubiri said.
In previous statements, Mayor Klarex reiterated his administration’s commitment to encourage both domestic and foreign investors to set up shop in Cagayan de Oro City which remains the center of commerce and education in northern Mindanao./Text by SC with CIO infographics
