Among the country's provinces: Cebu still richest

CEBU, Philippines — The Province of Cebu is still the richest province in the country for nine consecutive years, based on the Commission on Audit (COA) Annual Financial Report for 2022 on Local Government Units (LGU).

The province has boasted an asset totaling P235.738 billion in 2022, up from P215.27 billion in 2021.

Aside from Cebu, other richest provinces are Rizal (P35.594 billion); Batangas (P31.999 billion); Davao de Oro (P23.107 billion); Ilocos Sur (P21.562 billion); Bukidnon (P21.058 billion); Iloilo (P19.977 billion); Negros Occidental (P19.419 billion); Cavite (P19.342 billion) and Pampanga (P19.127 billion).

Cebu is the lone province in the country that has breached the P200 billion mark in terms of assets.

The COA also said that the cities of Mandaue and Cebu also remain among the top 10 richest cities in the country in 2022.

From seventh in 2021, Mandaue City pushed Cebu City out of sixth place with P34.231 billion worth of assets in 2022.

Cebu City went down to seventh spot with P30.545 billion worth of assets in 2022 from sixth place with P33.3 billion assets in 2021.

Quezon City is the wealthiest city in the Philippines, according to a report by the Commission on Audit (COA).

For three consecutive years, Metro Manila's most populous city has secured the top spot on the list, as indicated in previous years' reports and a recent release on Tuesday.

In 2022, Quezon City reported total assets of P443.406 billion, marking a decrease from the P451.007 billion declared in the previous audit year.

It is followed by Makati City with total assets of P239.476 billion.

Completing the country's 10 richest cities are Manila (P77.506 billion); Pasig City (P52.152 billion); Taguig (P40.840 billion); Mandaue (P34.231 billion); Cebu City (P30.545 billion); Mandaluyong (P32.550 billion); Davao City (P29.701 billion) and Paranaque (P27.376 billion).

None among the top 10 richest municipalities in the country are from the Province of Cebu.

The 2022 COA report covered 81 provinces, 147 cities, and 1,487 municipalities. It also included the Bangsamoro government with 27 municipalities. — (FREEMAN)