Makati City remained the richest local government unit (LGU) in the country after posting a total asset of PHP233.78 billion in 2019.
It was the third straight year that Makati recorded the highest assets. It is also the lone city in the country to post over PHP200 billion in assets.
According to the Commission on Audit (COA), Makati’s assets grew by PHP2.95 billion in 2019 from total assets of PHP230.833 billion in 2018.
Makati’s total asset for 2019 was higher than the entire province of Cebu, which posted total assets of PHP203.9 billion.
Makati’s wealth increased mainly because of its tax collection from PHP17.81 billion in 2018 to PHP18.43 billion in 2019.
Makati also earned PHP31.362 million from the issuance of local clearances.
The top 10 list of the wealthiest cities for 2019 are Makati (PHP233.78 billion), Quezon City (PHP96.423 billion), Manila (PHP64.805 billion), Pasig (PHP45.639 billion), Cebu City (PHP34.711 billion), Mandaue City (PHP32.157 billion), Taguig (PHP29.065 billion), Caloocan (PHP20.599 billion), Pasay (PHP19.795 billion) and Davao City (PHP19.783 billion).
For the provinces, Cebu is the wealthiest with PHP203.9 billion followed by Batangas (PHP20.793 billion), Rizal (PHP20.275 billion), Davao de Oro (PHP20.099 billion), Bukidnon (PHP18.294 billion), Surigao del Norte (PHP16.684 billion), Negros Occidental (PHP15.901 billion), Leyte (PHP13.54 billion), Palawan (PHP13.036 billion) and Iloilo (PHP13.034 billion).
The top 10 richest municipalities are Cainta, Rizal (PHP4.933 billion), Limay, Bataan (PHP4.065 billion), Silang, Cavite (PHP3.842 billion), Mariveles, Bataan (PHP3.076 billion), Sual, Pangasinan (PHP2.989 billion), Caluya, Antique (PHP2.904 billion), Binangonan, Rizal (PHP2.336 billion), Tanay, Rizal (PHP2.209 billion), Calaca, Batangas (PHP2.12 billion) and Carmona, Cavite (PHP2.075 billion). (CC)