The Provincial Government of Bohol’s (PGBh) 2023 proposed budget gets reduced compared to 2022 budget.
Reports said that the 2023 proposed budget of the PGBh is P3,919, 489, 619.
In 2022, the PGBh’s budget was pegged at P4,278, 523, 605, reports add.
The huge reduction in the proposed budget in 2023 compared to 2022 is due to the reduction in the National Tax Allocation (NTA) or formerly known as Internal Revenue Allotment (IRA), from P3.3 billion to P2.8 billion.
This means that the PGBh lost at least P500 million in NTA.
The NTA reduction happened in all local government units (LGU) in the country.
The NTA is the biggest source for budget among LGUs which accounts to 72% of revenues in 2023.
The reason for the reduction in the NTA is the poor collection of revenues in 2020 as the country was severely affected by the pandemic.