Iloilo and Negros Occidental entered the top 10 richest provinces in the country according to the 2018 annual financial report on local government units (LGUs) of the Commission on Audit.
Iloilo ranked No.8 with an asset of P11.442 billion, P1 billion ahead from its 2017’s P10.045 billion assets.
Meanwhile, Negros Occidental gained the 6th spot with assets of almost P14.446 billion, up by over P2 billion from its 2017 assets of P12.889 billion.
Jean Marie Umadhay, head of the Provincial Treasurer’s Office revealed that revenues from the district hospitals and the stepped-up collection of real property taxes contributed a great deal to Iloilo’s total assets.
She also said the auction of some of its disposable properties also added to the total assets of the provincial government.
Covered cash, buildings and infrastructures among others owned by the provincial government constitute the total assets as indicated by COA.
“Iloilo also received grants from the national government through the Philippine Rural Development Project (PRDP) and Conditional Matching Grant to Provinces (CMGP) for infrastructures projects such as roads and bridges,” Umadhay added.
Here are the 10 richest provinces in the Philippines, according to the COA report:
- 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 10 richest LGUs:
- 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
The 10 richest municipalities:
- Cainta, Rizal – P4.437 billion
- Mariveles, Bataan – P3.016 billion
- Sual, Pangasinan – P2.805 billion
- Sto. Tomas, Batangas – P2.566 billion
- Binangonan, Rizal – P2.218 billion
- Caluya, Antique – P2.161 billion
- Tanay, Rizal – P2.014 billion
- Carmona, Cavite – P1.969 billion
- Silang, Cavite – P1.9 billion
- Calaca, Batangas – P1.876 billion