Makati bats for sustained financial stability

Makati bats for sustained financial stability | Daily Tribune

Outgoing Makati Mayor Abby Binay stressed on Sunday that the city’s current standing as a financially stable, transparent and fiscally responsible local government providing exemplary services to its citizens needs to be sustained.

“For the past nine years, we took bold steps to revolutionize public service and deliver groundbreaking benefits to our constituents while ensuring that every peso of taxpayers’ money is accounted for,” Binay said in a statement.

She stressed on service innovation, transparency and strict adherence to government auditing rules has earned the trust of Makati’s taxpayers.

“The city’s stable revenue growth has been crucial to the successful attainment of our short to long-term goals over the last nine years,” Binay said.

“We are grateful to our taxpayers, especially the business community, for their unwavering support and trust in my administration. It has been an honor and privilege to have you as our partners in securing a better future for our city and its people,” she added.

Under Binay’s leadership, Makati has exceeded its revenue targets every year without raising taxes. The mayor took the unprecedented step of asking the City Council to reduce realty taxes and tax assessment levels, with an ordinance approved in March.

“This is our way of showing our appreciation to our taxpayers, while ensuring that Makati remains the location of choice for foreign and local investors. More investments mean sustained economic growth, more jobs for Makatizens, and continued public services,” Binay said.

The Department of Finance (DoF) has recognized Makati as the leading city for fiscal autonomy. The city’s local revenues have consistently increased year after year, even during the pandemic, rising from P16 billion in 2016 to P24.15 billion in 2024. As of May 2025, collections reached P15.65 billion, with local sources comprising the majority.

The city’s commitment to fiscal responsibility has earned eight consecutive unmodified opinions from the Commission on Audit from 2017 to 2024, indicating consistent adherence to financial reporting standards.

Stable revenues have enabled Binay’s administration to pursue innovations in health and education, sectors that were also priorities for her father, former Vice President Jejomar Binay, during his tenure as city mayor.

“The innovations in our health programs and the expansion of benefits for our schoolchildren are my way of honoring the legacy of my father,” Binay said.

In addition to Ospital ng Makati, residents now have access to Makati Life Medical Center, which offers medical care, facilities and specialized services, including a cancer care center. Residents also receive free maintenance medicines, free and unlimited dialysis, chemotherapy and other diagnostic services, and 24/7 access to primary care and emergency services. Medical records are digitized and integrated for easy access.

Makati’s educational innovations include the conversion of 518 classrooms into “smart” classrooms equipped with Hybrid Interactive Boards and free internet for teachers and students. Students from kindergarten to senior high school receive free rubber shoes, Japan-inspired Randoseru bags, leather shoes, socks, hygiene kits, dental kits, rain gear, emergency go bags, reusable tumblers, grocery packs and daily nutritious snacks each school year.

Binay has also provided full support to public school teachers, granting them special allowances, fringe benefits, laptops and teacher’s kits containing smart devices and other essentials.