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Manila Bulletin devider Philippines devider National devider Quezon City, Cebu province wealthiest local governments -- COA

Quezon City, Cebu province wealthiest local governments -- COA

Published Nov 8, 2023 04:00 pm

Quezon City, with assets of P443.4 billion in 2022, is still the richest city in the Philippines. Cebu province is the wealthiest with assets of P235.7 billion, while Carmona (which became a city in July 2023) in Cavite was the richest municipality in 2022 with assets of P6.5 billion.

Makati City is the second richest city with assets of P239.4 billion, while Rizal province is the second wealthiest province with assets of P35.5 billion. Limay in Bataan is the second richest municipality with assets of P5.7 billion.

In its annual financial report (AFR) on local governments, the Commission on Audit said that even if Quezon City's assets decreased to P443.4 billion in 2022 compared to P451 billion in 2021 and P452 billion in 2020, it is still the richest city for the third consecutive year.

COA said that Makati City's assets rose to P239.4 billion in 2022 compared to P238.5 billion in 2021 and P238.4 billion in 2020.

Third placer in the ranking is Manila with P77.5 billion assets recorded in 2022 compared to P65.2 billion in 2021, it said.

Rizal province is the second placer with assets of P35.595 billion in 2022, while Batangas is third with P31.999 billion.

Based on COA's AFR, the 10 wealthiest cities are:

1. Quezon City - P443.406 billion

2. Makati City - P239.478 billion

3. Manila - P77.506 billion

4. Pasig City - P52.152 billion

5. Taguig City - P40.840 billion

6. Mandaue City - P34.231 billion

7. Cebu City - P30.545 billion

8. Mandaluyong City - P32.550 billion

9. Davao City - P29.701 billion

10. Parañaque City - P27.376 billion

The wealthiest provinces are:

1. Cebu - P235.738 billion

2. Rizal - P35.595 billion

3. Batangas - P31.999 billion

4. Davao de Oro - P23.108 billion

5. Ilocos Sur - P21.562 billion

6. Bukidnon - P21.058 billion

7. Iloilo - P19.977 billion

8. Negros Occidental - P19.419 billion

9. Cavite - P19.342 billion

10. Pampanga - P19.127 billion

The richest municipalities are:

1. Carmona, Cavite - P6.523 billion

2. Limay, Bataan - P5.792 billion

3. Silang, Cavite - P4.454 billion

4. Caluya, Antique - P3.822 billion

5. Cabugao, Ilocos Sur - P3.806 billion

6. Cainta, Rizal - P3.767 billion

7. Taytay, Rizal - P3.671 billion

8. Claver, Surigao del Norte - P3.568 billion

9. Binangonan, Rizal - P3.490 billion

10. Sta. Maria, Ilocos Sur - P3.268 billion

Related Tags

richest city top 10 Commission on Audit (COA) Annual Financial Report for 2020 Commission on Audit
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