Ever wondered what cities or provinces are among the wealthiest in the Philippines in terms of assets? Surely, there are, based on ABS-CBN News report with a study conducted by the Commission on Audit (COA) from 2021, Quezon City is still the richest city in the Philippines in terms of assets.
It is the largest and most populous city in Metro Manila which has assets worth P451.007 billion, that’s according to the COA report. Meanwhile, Cebu, which has assets worth up to P215.27 billion, continued to hold the title of richest province in the country.
On the other hand, the wealthiest town in the country is Carmona in Cavite, which has assets of P6.211 billion. This is according to the Philippine Constitution and Government Auditing Code, in which the data is included in COA’s 2021 Annual Financial Report for Local Government.
The financial statements of 1,676 or 97.7% of the 1,715 local government units—81 provinces, 1,488 municipalities, 22,680 barangays, and the Bangsamoro administration, which consists of 21 ministries and offices—are covered by the report.
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The following places were among the richest in the country, according to COA via ABS-CBN News report:
- Quezon City: P451.007 billion
- Makati: P238.561 billion
- Manila: P65.252 billion
- Pasig City: P51.176 billion
- Taguig: P36.116 billion
- Cebu City: P33.343 billion
- Mandaue: P33.006 billion
- Mandaluyong P31.44 billion
- Davao City: P26.555 billion
- Caloocan: P23.383 billion
- Cebu: P215.27 billion
- Rizal: P30.637 billion
- Batangas: P29.705 billion
- Davao de Oro: P23.211 billion
- Bukidnon: P19.455 billion
- Negros Occidental: P10.025 billion
- Ilocos Sur: P17.907 billion
- Iloilo: P17.399 billion
- Isabela: P16.419 billion
- Palawan: P16.108 billion
- Carmona, Cavite: P6.211 billion
- Limay, Bataan: P4.794 billion
- Silang, Cavite: P3.738 billion
- Cainta, Rizal: P3.393 billion
- Taytay, Rizal: P3.274 billion
- Binangonan, Rizal: P3.141 billion
- Caluya, Antique: P3.11 billion
- Sta. Maria, Ilocos Sur: P3.044 billion
- Cabugao, Ilocos Sur: P2.966 billion
- Rodriguez, Rizal: P2.915 billion
With total assets of P4.463 billion, Limay, Bataan, was the wealthiest municipality in 2020, while Carmona, Cavite, came in eighth with P2.471 billion.
The local governments’ annual financial report was submitted on September 29 to the offices of Speaker Ferdinand Martin Romualdez, President Ferdinand Marcos Jr., and the Senate by COA Officer-in-Charge Roland Pondoc.
According to COA’s 2020 report, Cebu province has assets worth P213.005 billion, compared to Quezon City’s total assets of P452.333 billion.
Source: ABS-CBN News