Makati has overtaken Quezon City as the Philippines’ richest city with total assets of P196.57 billion, according to the Commission on Audit.
Based on the Agency’s 2017 audit report, Quezon City―known as the City of Stars―ranked second with assets of P68.33 billion, followed by the City of Manila (P38.67 billion), Cebu City (P33.86 billion), Pasig City (P33.70 billion), Taguig City (P19.64 billion), Caloocan City (P17 billion), Pasay City (P16.66 billion), Davao City (P13.18 billion) and Calamba City (P12.41 billion).
Quezon City topped the list in 2016 with total assets of P59.56 billion, followed by Makati’s P54.85 billion.
Makati increased its assets four times in 2017.
The 10 provinces with the biggest assets were Cebu at P34.13 billion, followed by Compostela Valley’s P18.95 billion, Batangas’ P15.56 billion, Rizal’s P14 billion, Negros Occidental’s P12.88 billion, Zambales’ P10.45 billion, Bulacan’s P10.45 billion, Palawan’s P10.15 billion, Iloilo’s P10 billion and Pampanga’s P9.53 billion.
The provinces above were followed by Cainta’s P3.98 billion, Sual’s P2.52 billion, Limay’s P2.42 billion, Santo Domingo’s P2.14 billion, Binangonan’s P2.10 billion, Mariveles’ P2.09 billion, Tanay’s P1.79 billion, Carmona’s P1.65 billion, Narvacan’s P1.62 billion and Silang’s P1.59 billion.
Based on the data on the highest reported total expenses, Negros Occidental, Makati City and Rizal’s Cainta topped the list of the first 10 local government units with total expenses of P4.45 billion, P13.07 billion and P1.11 billion, respectively, followed by Bulacan’s P3.26 billion, Quezon City’s P12.30 billion and Taytay’s P0.79 billion.