The local government of Manila on Thursday has assured the city’s residents that it is already addressing its debt problems that it is paying off during the incumbent administration.

In a statement, Manila Mayor Honey Lacuna said that since taking office in mid-2022, Lacuna’s administration has already paid P2.5 billion of the P17.8 billion debt. However, she stressed that the city government cannot afford to cover the entire debt with its current funds.

She also revealed that the previous administration’s debts will take up to 20 years, until 2044, for the Manila city government to fully pay with the total debt amounting to P17.8 billion.

The mayor added that the city government is struggling because people need social services.

“The large debt is affecting the city’s ability to address the needs of its residents. There are more important needs that should be prioritized, which would benefit a larger portion of the population,” Lacuna said.

She also stressed that her administration is focused on providing social services to benefit more residents directly, especially the 203,000 senior citizens, the 50,000 persons with disabilities (PWDs) and solo parents, and the 20,000 student beneficiaries from Grade 12, the Universidad de Manila, and the Pamantasan ng Lungsod ng Maynila.

These sectors receive monthly financial assistance from the city government. Lacuna said that this assistance could be increased if the city were not paying a huge obligation to two banks from where the P17.8-billion loans were secured.

“If we didn’t have such a large obligation, we could provide more assistance to Manileños,” Lacuna said.

In the interest of fairness, DAILY TRIBUNE made an effort to get former Manila Mayor Isko Moreno’s reaction but did not receive a response to the phone call.