Connect with us

Hi, what are you looking for?

News

Quezon City keeps top post as richest in assets

PHILSTAR

QUEZON CITY remained the richest in terms of assets among 146 cities in the country in 2021 with P451 billion, according to a report by state auditors released on Monday.  

The Commission on Audit (CoA) said in its Annual Financial Report on Local Governments that Quezon City — the biggest in the capital region Metro Manila in terms of land area and population — maintained the top spot despite a P1-billion drop in assets from P452 billion in 2020. 

Makati and Manila came in second and third with P238.56 billion and P65.25 billion, respectively.  

Pasig followed with P51.17 billion, then Taguig with P36.11 billion.

Cebu, the biggest urban center in central Philippines, was sixth with P33.34 billion. It was followed by neighboring Mandaue with P33 billion. 

Mandaluyong ranked eighth with P31.44 billion while another Metro Manila City, Caloocan was tenth with P23.38 billion.  

Davao, the only city in southern Philippines within the top 10, ranked ninth with P26.55 billion. 

Among 81 provinces, Cebu was the wealthiest with P215.27 billion in assets, followed by Rizal with P30.63 billion, CoA said in the same report.  

Other provinces in the top 10 were: Batangas, P29.7 billion; Davao de Oro, P23.21 billion; Bukidnon, P19.45 billion; Negros Occidental, P18.02 billion; Ilocos Sur, P17.9 billion; Iloilo, P17.39 billion; Isabela, P16.41 billion; and Palawan, P16.1 billion.  

State Auditors reported 1,676 or 97.7% of the 1,715 local government units —including 81 provinces, 146 cities and 1,488 municipalities — submitted financial statements for the audit. Around 22,680 barangays and the Bangsamoro government also submitted reports to CoA. — Matthew Carl L. Montecillo

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

BEIJING – Three Chinese astronauts arrived on Wednesday at China’s space station for the first in-orbit crew rotation in Chinese space history, launching operation of the second inhabited outpost in low-Earth orbit after the NASA-led...

News

STOCK PHOTO Image by Pexels from Pixabay ALMATY – McDonald’s licensee in Kazakhstan was forced to temporarily close its restaurants this month after cutting ties with Russian companies and running out of supplies, three sources with...

News

SINGAPORE – Olivia Chiong and her wife feel like the Singapore government has made clear to them and their two children that they don’t belong in the city-state. So this week’s vote...

Editor’s Pick

The UK’s biggest broadband and mobile operators have today met with the government to follow up on commitments agreed in the summer to support...

News

The International Monetary Fund expects the Philippine economy to expand by 6.5% this year, matching the lower end of the government’s 6.5-7.5% goal. —...

News

FINANCE SECRETARY Benjamin E. Diokno speaks at the BusinessWorld Economic Forum at the Grand Hyatt Manila, Nov. 29. — PHILIPPINE STAR/ KRIZ JOHN ROSALES...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.