QUEZON CITY, (PIA) — Department of Finance (DOF) Secretary Ralph G. Recto assured local government units (LGUs) that their agency is committed to supporting them in their efforts to rise higher, grow faster, and deliver the benefits of the “Bagong Pilipinas” initiative to their constituents.
Speaking at the Bureau of Local Government Finance’s (BLGF) 37th Anniversary celebration, Recto emphasized the critical role of LGUs in fostering prosperity for the communities they serve.
“For the success of every LGU translates into prosperity for the people you serve. Sa inyo po nakasalalay ang pag-angat ng bawat bayan at ang magandang kinabukasan ng bawat Pilipino,” he stated. (You hold the key to the progress of every town and a bright future for every Filipino.)
Recto highlighted the DOF’s responsibility to assist LGUs in enhancing their financial capacity to provide better services, achieve fiscal sustainability, and contribute to national growth. “It is our duty to assist you in building up your financial capacity,” he said.
The BLGF, an attached agency of the DOF, provides innovative local fiscal policies to safeguard the financial viability of LGUs, enhance revenue mobilization, and promote good governance and fiscal transparency.
During the anniversary, the BLGF recognized the top-performing provinces, cities, and municipalities based on various performance indicators, including local source revenues and growth rates.
Recto noted a significant increase in the number of billion-peso LGUs outside the National Capital Region, which nearly doubled from 28 in 2019 to 46 last year.
“This is a powerful testament to the improving governance, expanding financial capacity, and growing fiscal independence of our LGUs nationwide,” Recto said, adding that this progress means more inclusive economic growth benefiting Filipinos across the country.
To further this goal, the BLGF is launching the Local Governance Reform Project (LGRP) to enhance local fiscal management, particularly in real property valuation and appraisal through digitalization.
This initiative will support the implementation of the Real Property Valuation and Assessment Reform Act (RPVARA), aimed at establishing an equitable real property valuation system to attract investments and boost local revenues.
A Data Sharing Agreement was signed during the event to develop a Real Property Information System, enhancing collaboration among government offices and LGUs.
Recto urged LGUs to expect swift implementation of these initiatives, which aim to strengthen governance transparency and transform local institutions into digitally empowered entities.
“Asahan po ninyo ang mabilis na pagpapatupad sa mga programang ito para gawing mas klaro, mas simple, at mas moderno ang pamamalakad ng ating gobyerno,” he affirmed. (Rest assured of a fast delivery of this program that paves the way for a clear, simple, and modernized governance.)
The event was attended by key officials, including Department of Information and Communications Technology Secretary Ivan John Uy and BLGF Executive Director Consolacion Q. Agcaoili, alongside local government executives and stakeholders. (JEG/PIA-NCR)
