Finance Secretary Ralph G. Recto has assured Cebu City Mayor Nestor Dionson Archival, Sr., of the Department of Finance’s (DOF) full support in accelerating Cebu’s growth and digitalization push for better revenue collections and public services for Cebuanos.
Secretary Recto visited the Cebu City hall on September 18, 2025 and was warmly received by Mayor Archival, Vice Mayor Tomas de la Rama Osmeña, Cebu City Treasurer Emma C. Villarete, and other city officials.
During the meeting, the Finance Chief emphasized that the Mayor can directly call on the DOF at any time should the city require support in strengthening its fiscal management, improving local revenues, or rolling out priority reforms.
He underscored the role of the Bureau of Local Government Finance (BLGF) in helping Cebu accelerate digitalization through the Local Governance Reform Project (LGRP).
This nationwide initiative aims to harmonize fiscal policies and enhance local financial management, particularly in real property valuation and appraisal systems.
Secretary Recto likewise urged Cebu City to take full advantage of President Ferdinand R. Marcos, Jr.’s eGov PH App, a one-stop-shop mobile platform led by the Department of Information and Communications Technology (DICT) that integrates key government services.
He also discussed the benefits of the Real Property Valuation and Assessment Reform Act (RPVARA) in significantly boosting Cebu City’s revenue base.
Coupled with the increased National Tax Allotment (NTA) for local governments, he highlighted that Cebu now has a larger fiscal space to deliver more and better services for its constituents.
To further support LGUs, Secretary Recto noted that local governments have access to financing from the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP).
He added that with the Bangko Sentral ng Pilipinas (BSP) easing interest rates, borrowing costs for LGUs are expected to go down, making it more affordable to finance their development projects.
Moreover, the Finance Chief commended Cebu as the economic powerhouse of Central Visayas, which is the fastest-growing regional economy in the country, expanding by 7.3% over the last two years.
This outpaced the national average growth of 5.9% since the start of the Marcos, Jr. administration in 2022, the fastest in Asia and almost double the global rate.
Cebu is primed to reap the full benefits of the country’s promising economic prospects, with its edge as one of Asia’s premier outsourcing destinations and as the vital trade gateway linking Luzon, Visayas, and Mindanao to the rest of the world.
The country’s strong economic fundamentals will also strengthen Cebu’s global dominance in shipbuilding, furniture, and food processing industries.
Secretary Recto was joined by Chief of Staff and Undersecretary Maria Luwalhati C. Dorotan Tiuseco, Undersecretary Charlito Martin R. Mendoza, and Assistant Secretary Euvimil Nina Asuncion.
The DOF team was in Cebu for the Visayas leg of the Philippine Economic Briefing (PEB), which provided investors with updates on the country’s strong economic outlook and investment opportunities. The event gathered 500 business leaders and guests.
Secretary Recto also met with all Bureau of Customs (BOC) district collectors, visited the Port of Cebu, and inspected the Bureau of Internal Revenue’s (BIR) Regional District Office in Cebu City to review their facilities, systems, and ongoing reforms.
