COA: QC still richest PH city with P443B assets

Quezon City is still the richest city in the country in terms of assets with P443 billion in 2022, the Commission on Audit’s (COA) 2022 Annual Financial Report on local government units showed.

The city’s P443 billion assets as of the end of 2022, however, were slightly lower than its P451 billion worth of assets in 2021 when it also topped the field in terms of assets.

Makati City ranked a far second with P239 billion assets, which is light years away from third-ranked Manila’s P77 billion assets.

Finishing fourth is Pasig City with P52 billion, followed by Taguig City with P40 billion.

Rounding up 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

Mandaue City’s assets outranked that of Cebu City in 2022, finishing sixth from seventh in 2021.

Mandaluyong City’s P32 billion assets also earned the city the seventh spot in 2022, higher than its eighth place finish in 2021 when it only posted P31 billion in assets.

Cebu City fell to eighth place in 2022 with P30 billion assets, two notches lower from its sixth place ranking in 2021 with P33 billion in assets.

Davao City maintained its ninth place spot among the richest cities, even if its assets increased to P29 billion in 2022 from P26 billion in 2021.

Parañaque City, on the other hand, broke into the top 10 in 2022 with P27.3 billion assets, dislodging Caloocan City which had P27.2 billion assets in 2022 to end up at the 11th spot.

Richest municipalities

Among municipalities, Carmona, Cavite had the highest amount of assets at P6.5 billion, followed by Limay, Bataan with P5.79 billion.

Rounding up the top 10 richest municipalities were:

• Silang, Cavite with P4.45 billion
• Caluya, Antique with P3.82 billion
• Cabugao, Ilocos Sur with P3.80 billion
• Cainta, Rizal with P3.76 billion
• Taytay, Rizal with P3.67 billion
• Claver, Surigao del Norte with P3.56 billion
• Binangonan, Rizal with P3.49 billion and
• Sta. Maria, Ilocos Sur with P3.26 billion

—VAL, GMA Integrated News