Belmonte says QC ‘debt-free’
MANILA, Philippines — Quezon City Mayor Joy Belmonte said the city has no outstanding debt, highlighting the local government’s financial standing in her eighth year as local executive.
Belmonte, in her State of the City Address on Monday, Oct. 19, declared that since the start of her stint in 2019, “we have continuously strengthened our city’s financial position.”
This year, the local government’s budget reached P45.5 billion. More than half of which “has been allocated to services that directly benefit every QCitizen—from education, health care, and housing to social welfare,” she said.
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Belmonte pointed out that despite the budget increase, “our city is debt-free, and we have not raised taxes.”
Quezon City’s economy recorded a 5.4 percent growth in 2025 from its level in 2024, faster than the 4.3 percent in the previous year. The gross domestic product (GDP) of Quezon City was estimated at P1.40 trillion in 2025. /cb
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