By Bohol Island News Staff / 09:31 PM October 17, 2019
The province of Cebu is the richest province in the Philippines for 2018.
The ranking was based on the 2018 financial report of the Commission on Audit (COA) covering all 81 provinces in the Philippines.
According to the report posted in COA’s website, Cebu has total assets of of P35.7 billion. Of the amount, P7.4 billion is in cash while the rest is the value of its real properties.
This is the fifth consecutive year that Cebu earned the top spot.
Meanwhile, Makati City has remained the country’s wealthiest local government unit (LGU) for the second year in a row.
Top 10 richest provinces
Cebu – P35.659 billion
Compostela Valley – P19.615 billion
Batangas – P18.186 billion
Rizal – P18.076 billion
Bukidnon – P15.278 billion
Negros Occidental – P14.446 billion
Laguna – P11.587 billion
Iloilo – P11.442 billion
Palawan – P11.277 billion
Zambales – P11.241 billion
The top 10 richest LGUs in 2017 again made it to the 2018 list:
Makati City – P230.833 billion
Quezon City – P87.285 billion
Manila – P40.711 billion
Pasig City – P38.985 billion
Cebu City – P33.884 billion
Taguig City – P24.536 billion
Caloocan City – P18.381 billion
Pasay City – P18.278 billion
Davao City – P16.259 billion
Calamba City – P12.606 billion