Metro Manila (CNN Philippines, October 17) — Makati is once again the country’s richest city and local government unit (LGU), with over 200 billion pesos in total assets in 2018.
The Commission on Audit’s (COA) 2018 Annual Financial Report revealed that Makati has ₱230,833.17 billion in total assets, up from ₱196.573 billion last year when it first took the top spot.
Quezon City follows by a wide margin with ₱87,285 billion. The City of Manila has less than half that amount with ₱40.711 billion in total assets.
Here are the richest Philippine cities in 2018:
Makati City – ₱230.833 billion
Quezon City – ₱87.285 billion
City of Manila – ₱40.711 billion
Pasig City – ₱38.985 billion
Cebu City – ₱33,884 billion
Taguig City – ₱24,535 billion
Caloocan City – ₱18.380 billion
Pasay City – ₱18.278 billion
Davao City – ₱16.258 billion
Calamba City – ₱12,605 billion
Meanwhile, the richest province is Cebu with ₱35.659 billion in total assets while Cainta, Rizal is the richest municipality with total assets of ₱4.437 billion.
COA compiled the list after reviewing the financial statements of 1,679 LGUs that were able to submit the required documents. The country has 1,715 LGUs, composed of only 81 provinces, 145 cities and 1,489 municipalities.
The financial profiles of barangays were not included in the report. In total, the Philippines has 43,760 LGUs including the 42,045 barangays.
The report showed the total assets of the included LGUs amounted to ₱2.092 trillion, a 17.69 percent increase, or up by ₱318.56 billion
from last year’s figure of ₱1.746 trillion.
Here is the list of top 10 richest LGUs in the country for 2018
Makati City – ₱230.833 billion
Quezon City – ₱87.285 billion
City of Manila – ₱40.711 billion
Pasig City – ₱38.985 billion
Cebu province – ₱35.659 billion
Cebu City – ₱33.884 billion
Taguig City – ₱24.535 billion
Caloocan City – ₱18.381 billion
Pasay City – ₱18.278 billion
Compostela Valley – ₱19.615 billion
