Aquino richer by P400,000, no longer debt-free in 2015

MANILA, Philippines – For 2015, President Benigno Aquino Ill’s net worth jumped to P68.78 million – higher by P464,086 compared to what he declared the year before in his Statement of Assets, Liabilities and Net Worth (SALN).

Specifically, Aquino declared a net worth of P68,775,730, with increases in both his assets and liabilities. This is the first time since 2011 that he declared liabilities.

In 2014, a debt-free Aquino declared a P68.31-million net worth.

He didn’t declare any new real property for 2015. In fact, his latest SALN excludes the residential land in Antipolo City (with acquisition cost of P507,393) that he declared in his 2014 SALN. He is now left with 5 properties based on his latest SALN.

Yet the value of his real assets still increased from P32.67 million in 2014 to P40.16 million in 2015. This is because he adjusted the acquisition cost of his residential house and lot in Quezon City. While it was pegged at P24.31 million in his 2011 to 2014 SALNs, it is now valued at P32.31 million in his 2015 SALN.

The value of Aquino’s personal properties also increased. While the amounts of his vehicles, receivables, and “other assets” remained the same as those in his 2014 SALN, his “cash on hand and in banks” grew from P30.09 million in 2014 to P31.06 million in 2015.

This pushed the value of his total personal properties from P35.64 million in 2014 to P36.61 million in 2015.

The President receives a salary of P120,000 per month. He didn’t declare anything under “business interests and financial connections” because the 1987 Constitution forbids the president from participating “in any business, or [to] be financially interested in any contract”.

Aquino also declared a liability of P8 million. Based on his SALN, the amount was borrowed from one of his sisters.

The deadline for filing of annual SALNs was on April 30. Aquino filed his 2015 SALN on April 25. – Rappler.com

Kath Abenales is a Rappler intern.