Quezon City has retained its title as the wealthiest city in the Philippines for the third consecutive year, as reported in the 2022 Commission on Audit (COA) Annual Financial Report.
State auditors have confirmed that Quezon City, the largest and most populous city in Metro Manila, boasts an impressive total of P443.406 billion in assets.
However, while Quezon City’s assets at the end of 2022 amounted to P443 billion, they were slightly lower compared to its P451 billion worth of assets in 2021 when it also claimed the top spot in terms of assets.
The COA’s Annual Financial Report for 2022 encompassed 81 provinces, 147 cities, and 1,487 municipalities.
Makati City secured a distant second place with P239 billion in assets, a significant difference from the third-ranked Manila, which reported P77 billion in assets.
Following closely in fourth place is Pasig City with P52 billion, followed by Taguig City with P40 billion.
Completing the list of the top 10 richest cities in terms of assets are Mandaue City, Cebu with P34 billion, Mandaluyong City with P32 billion, Cebu City, Cebu with P30 billion, Davao City with P29 billion, and Parañaque City with P27 billion.
The data has been included in the 2022 Annual Financial Report for Local Government, which was prepared by the COA by the mandates set forth by the Constitution and the Government Auditing Code of the Philippines.
Source: PhilNews24 | October 10, 2023
