The Cordillera has a strong potential to sustain its financial capacity if it becomes an autonomous region, according to the National Economic Development Authority Region 10 Director Maria Lourdes Lim.
During the forum on fiscal viability of an autonomous region conducted last month in Baguio City, Lim said the strong potential of the Cordillera Administrative Region for fiscal sustainability can be attributed to its high per capita transfers or national government allocation per person and its locally generated revenues. Only CAR shares this status with the National Capital Region, she added.
Despite CAR’s constant receipt of the lowest national government allocation among the regions in the country, Lim said it has the highest capacity to generate local revenues, a major determinant of its potential for fiscal sustainability.
She suggested for local government units in CAR to lower their high Internal Revenue Allotment dependency ratio, which ranges from 72 to 93 percent; broaden their tax base, and increase efficiency in collecting revenues.
Cordillera Regional Development Council Vice Chairperson and NEDA-CAR Director Milagros Rimando said the forum served as venue to learn and evaluate whether the Cordillera, as an autonomous region or as a federal state, can be financially sustainable.
She added that the RDC-CAR is planning to partner with the Local Government Development Foundation and Philippine Institute for Development Studies for the conduct of fora within the year.
During the forum on fiscal viability of an autonomous region conducted last month in Baguio City, Lim said the strong potential of the Cordillera Administrative Region for fiscal sustainability can be attributed to its high per capita transfers or national government allocation per person and its locally generated revenues. Only CAR shares this status with the National Capital Region, she added.
Despite CAR’s constant receipt of the lowest national government allocation among the regions in the country, Lim said it has the highest capacity to generate local revenues, a major determinant of its potential for fiscal sustainability.
She suggested for local government units in CAR to lower their high Internal Revenue Allotment dependency ratio, which ranges from 72 to 93 percent; broaden their tax base, and increase efficiency in collecting revenues.
Cordillera Regional Development Council Vice Chairperson and NEDA-CAR Director Milagros Rimando said the forum served as venue to learn and evaluate whether the Cordillera, as an autonomous region or as a federal state, can be financially sustainable.
She added that the RDC-CAR is planning to partner with the Local Government Development Foundation and Philippine Institute for Development Studies for the conduct of fora within the year.
