Makati Ranks as Top City for Fiscal Autonomy in Latest DOF Report

The Department of Finance (DOF) has ranked Makati City as the top local government unit (LGU) in terms of fiscal autonomy for 2022 and 2023. Makati achieved the highest ratio of local source revenues to total current operating income among cities, demonstrating strong independence from national funding sources.

Makati Mayor Abby Binay credited this success to the city’s efforts in expanding revenue through efficient and transparent reforms. In 2022, Makati’s local revenue made up 86.84% of its total income, increasing to 90.60% in 2023. The city also recorded the highest per capita operating expenditure, spending P24,050 in 2022 and P23,995 in 2023.

As of August,Makati surpassed its revenue target with a total collection of P18.8 billion, driven mainly by business taxes and property taxes. The city also registered 3,900 new businesses this year, amounting to P31.87 billion in new investments.