Barcelona is oftentimes described as a “poor but historical town”. Barcelona has remained a fifth class municipality for 23 years since 1987. Of the total 14 towns of the province of Sorsogon, Barcelona has remained in the basement. The only consolation is that Barcelona is not alone – sharing the same predicament with two other coastal municipalities.
As financial history could no longer be changed, future course can be planned and charted.
Almost 96% of the revenue of Barcelona came from its share in the Internal Revenue Allotment (IRA) and only 4% is generated from local revenues.