By Bohol Island News Staff / 09:31 PM October 17, 2019
The Cebu Provincial Capitol

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

By Bohol Island News

Your reliable source of news and content in the island and the rest of Central Visayas and Mindanao.

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