TACLOBAN CITY – Mayor Alfred Romualdez here has denied reports that a weakening local economy has forced several establishments in the downtown area to shut down in recent months.
In an interview with reporters on Thursday, Feb.19, Romualdez said city records show that around 900 new businesses began operations last year, while only more than 50 establishments ceased operations during the same period.
“We experience traffic congestion every day because our economy is growing. We did not have that 10 years ago or even five years ago,” the mayor said.
Snapshots of businesses that have closed since last year have circulated on social media, prompting concerns among netizens and some entrepreneurs, who attribute the closures to mounting economic and operational challenges.
Earlier, Eugene Tan, president of the Philippine Chamber of Commerce and Industry (PCCI) Tacloban-Leyte chapter, said their group has observed a steady decline in business activity across the city.
Tan cited several contributing factors, including an economic slowdown, rising real property taxes and limited parking due to railings installed along major roads.
Romualdez, however, suggested that the criticism stems from the city government’s policy of opening the local market to large-scale investors.
“They want to monopolize the business, but we allowed the entry of big businesses to create jobs. Competition has also stabilized prices of goods in the city,” he said.
Data from the Philippine Statistics Authority (PSA) appear to support the mayor’s claim of economic growth. In October 2025, the PSA reported that Tacloban’s economy expanded by 8.2 percent in 2024, surpassing the 6.8 percent recorded in 2023.
The PSA estimated the city’s Gross Domestic Product at PHP59.58 billion in 2024, up from P55.06 billion in 2023 and P51.54 billion in 2022, all measured at constant 2018 prices.
(SARWELL Q. MENIANO/PNA)
