Manila’s turnaround signals fresh start
‘I may not see the full realization of these efforts during my term, but we have started the work to ensure our city never slides back into debt and disorder.’
‘I may not see the full realization of these efforts during my term, but we have started the work to ensure our city never slides back into debt and disorder.’
Mayor Francisco “Isko Moreno” Domagoso concluded 2025 by announcing a dramatic turnaround in Manila’s financial health, reporting that his administration settled billions in inherited debt while attracting record-breaking business investments in the second half of the year.
In a comprehensive year-end report broadcast live from City Hall on Tuesday, Domagoso detailed the “fiscal discipline” used to rescue the city from a P10.2 billion commercial obligation crisis he inherited upon returning to office in mid-2025.
Domagoso revealed that from July to December, the city government successfully settled P4.8 billion in prior-year obligations. He addressed critics who blamed his previous term’s pandemic-era loans for the city’s current cash constraints, presenting data to show those bank loans are being serviced regularly, with P557.8 million paid this year.
“The overwhelming burden came from the unpaid obligations of the previous administration, not the bank loans used to build schools and hospitals during the pandemic,” Domagoso said.
The mayor highlighted a 9.3 percent year-on-year increase in revenue collection, totaling P16.1 billion for 2025. He credited a “General Tax Amnesty” ordinance for both helping 24,276 struggling taxpayers and generating P439 million in previously uncollected revenue.
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