Makati still Philippines’ richest local government unit

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Makati still Philippines’ richest local government unit
Makati City reports total assets of P230.833 billion in 2018 – an increase of P34.26 billion from 2017 largely due to the value of road networks in 6 barangays

MANILA, Philippines – Makati City remained the country’s wealthiest local government unit (LGU) for the second year in a row, reporting total assets of P230.833 billion in 2018.

According to the 2018 Annual Financial Report on LGUs submitted by the Commission on Audit in September, Makati’s assets grew by P34.26 billion from its total assets of P196.574 billion in 2017.

Bulk of the increase was attributed to the inclusion of the computation of the value of road networks in 6 barangays that totaled P33.52 billion.

In 2017, Makati not only overtook Quezon City as the Philippines’ richest LGU but also became the first LGU to breach the P100-billion mark in terms of assets. In 2018, Makati is still the only LGU that has breached the P100-billion mark.

The top 10 richest LGUs in 2017 again made it to the 2018 list:

  • 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

Top 10 richest provinces

  • 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

Bukidnon and Laguna were not in the 2017 list. Bulacan and Pampanga, which were 7th and 10th richest provinces in 2017, respectively, dropped from the 2018 list.

Top 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

No municipality from Mindanao made it to the list. – Rappler.com

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