Taguig emerged as the seventh wealthiest city in the Philippines.
The Commission on Audit (COA) released the annual financial report for local government units for the year 2020.
The report listed the top 10 provinces, cities and municipalities with the biggest amount of total assets in 2020.
It showed Taguig placing seventh with total assets of P30.68 billion. Assets were based on current assets consisting of cash, cash equivalents and receivables, while non-current assets are property, plant and equipment.
Taguig’s total assets in 2020 increased by P1.61 billion, or 5.5 percent, from P29.06 billion in 2019. In the same report in 2019, Taguig also placed seventh in the top 10 wealthiest cities in the country.
In the top 10 wealthiest cities, six are in Metro Manila and four in the provinces. Quezon City is the No. 1 wealthiest city in the country with total assets of P452.33 billion.
The top 10 wealthiest cities in the Philippines based on total assets in 2020 are:
1. Quezon City - P452.33 billion
2. Makati - P238.46 billion
3. Manila - P76.54 billion
4. Pasig - P49.51 billion
5. Cebu City - P34.75 billion
6. Mandaue City - P32.57 billion
7. Taguig City - P30.68 billion
8. Davao City - P23.66 billion
9. Caloocan City - P22.20 billion
10. Zamboanga City - P19.77 billion
In the top 10 cities in terms of liabilities, Taguig placed fifth with total liabilities of P14.3 billion and is in fourth place in the top 10 cities with the highest amount of total expenses at P12.57 billion.
Taguig is also fifth in the top 10 cities with the highest amount of revenues. In 2020, Taguig generated total revenues of P12.75 billion.