By LITO RULONA Correspondent THE president of the Cagayan de Oro Chamber of Commerce and Industry (Oro Chamber) has declared support for Mayor Oscar Moreno’s P4.8-billion annual budget target next year, saying it would spur the local economy and likely have a domino effect in neighboring towns.Engr. Cerael Donggay, Oro Chamber president, said the annual budget of any local government should be seen as an investment intended for improvements based on careful planning. “The improvement of economic conditions would surely lessen unemployment in the city,” he said.He said a P4.8-billion budget would allow city hall to open and construction new roads. New roads, he said, would mean new growth centers.“It is considered an investment that will attract investors coming from other areas like Metro Manila and even international investors. Growth centers would make them want to invest in the city,” Donggay said. He said a bigger budget could also translate to better local government services which is another factor in attracting investors.“In making annual budgets, planners always consider their capacity to earn. And so, we leave the matter to the local government. Whatever investment wanted by the city government should be for the good of everyone,” he said. City treasurer Glenn Bañez earlier said the Moreno administration’s budget target and projections were based on a thorough study of the books of accounts of the City Treasurer’s Office.Bañez said a P4.8-billion budget in 2016 can be justified given the city’s growth.