MANILA

Cebu, Makati still richest province, city

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CEBU and Makati remained the richest province and city, respectively, in the country in 2018, based on the Commission on Audit's (COA) financial report on local governments.

The town of Cainta in Rizal also retained the top spot among the municipalities.

Cebu province, which has topped the list among the provinces since 2014, had total assets of P35.66 billion in 2018, higher by 4.4 percent from P34.14 billion in 2017.

Except in 2018, Cebu's total assets have grown by an annual average of P2 billion, from P28 billion in 2014 to P30 billion in 2015, P32.43 billion in 2016 and P34.14 billion in 2017.

Cebu has maintained a wide gap between itself and other provinces in the top 10.

In 2018, Compostela Valley and Batangas provinces were a far second and third, with total assets of P19.6 billion and P18 billion, respectively.

The other provinces in the top 10 were: Rizal (P18.07 billion), Bukidnon (P15.2 billion), Negros Occidental (P14.4 billion), Laguna (P11.58 billion), Iloilo (P11.4 billion), Palawan (P11.27 billion), and Zambales (P11.24 billion).

Meanwhile, Makati remained the richest local government unit (LGU) nationwide, with total assets breaching the P200-billion mark in 2018.

Makati was the first to breach the P100-billion mark in total assets among the LGUs. It dislodged Quezon City from the top spot in 2017, as it accumulated assets amounting to P196.5 billion.

In 2018, Makati's total assets further increased to P230.8 billion.

Quezon and Manila cities retained their second and third ranks, with assets amounting to P87.3 billion and P40.7 billion, respectively.

The other top cities in 2018 were Pasig (P38.9 billion), Cebu (P33.8 billion), Taguig (P24.5 billion), Caloocan (P18.3 billion), Pasay (P18.2 billion), Davao (P16.2 billion), and Calamba (P12.6 billion).

Among the towns, Cainta in Rizal still topped the list, with total assets of P4.4 billion.

It was followed by Mariveles, Bataan with P3 billion and Sual, Pangasinan with P2.8 billion.

No towns from Cebu made it to the top 10.

The other wealthy towns in 2018 were: Sto. Tomas in Batangas (P2.56 billion), Binangonan in Rizal (P2.2 billion), Caluya in Antique (P2.1 billion), Tanay in Rizal (P2 billion), Carmona in Cavite (P1.96 billion), Silang in Cavite (P1.9 billion), and Calaca in Batangas (P1.87 billion). (MVI/SunStar Philippines)


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