Quezon City unseats Makati as PH’s wealthiest LGU

Quezon City earned the distinction of wealthiest local government unit (LGU) in the Philippines for 2020, after recording total assets of P452.333 billion, based on the annual financial report of the Commission on Audit released on Wednesday, December 22.

Mayor Joy Belmonte’s city hall toppled Makati City from the top spot, after the latter listed P238.465 billion in assets, good for third place.

Cebu province, which ranked second in 2019, also dropped a notch in 2020, after reporting total assets of P213 billion. It, however, maintained its distinction as the country’s wealthiest province.

QC, Makati, and Cebu province are the only LGUs with assets of over a hundred billion pesos.

The 373-page COA report covered all 81 provinces, 145 out of 146 cities, and 1,447 out of 1,488 municipalities that submitted their 2020 financial statements.

Wealthiest cities (amount in billions)

1. Quezon City – P452.333
2. Makati City – P238.465
3. Manila – P76.548
4. Pasig City – P49.511
5. Cebu City – P34.754
6. Mandaue City – P32.571
7. Taguig City – P30.682
8. Davao City – P23.664
9. Caloocan City – P22.203
10. Zamboanga City – P19.775

Manila, Pasig, Cebu City, Mandaue, and Taguig all maintained their spots in the top 10.

President Rodrigo Duterte’s hometown Davao City climbed one spot after posting an increase of P3.88 billion in total assets from the previous year.

Zamboanga City entered the top 10 in 2020, replacing Pasay.

Wealthiest provinces (amount in billions)

1. Cebu – P213.005
2. Batangas – P25.236
3. Rizal – P23.053
4. Davao de Oro – P20.891
5. Bukidnon – P18.558
6. Negros Occidental – P17.17
7. Isabela – P16.614
8. Surigao del Norte – P15.787
9. Palawan – P15.737
10. Iloilo – P14.837

Cebu province, safe at the top spot, registered an increase of P9.1 billion in total assets in 2020.

Meanwhile, Batangas, Rizal, Davao de Oro, and Bukidnon, and Iloilo’s rankings were unchanged from 2019.

Negros Occidental climbed two notches to sixth place, while Surigao Del Norte fell two spots to eighth place.

Isabela made it to the top 10, pushing Leyte, which ranked eighth in 2019, out of this year’s list.

Wealthiest municipalities (amount in billions)

1. Limay, Bataan – P4.463
2. Silang, Cavite – P4.239
3. Caluya, Antique – P3.502
4. Cainta, Rizal – P3.473
5. Taytay, Rizal – P3.119
6. Binangonan, Rizal – P2.804
7. Sual, Pangasinan – P2.678
8. Carmona, Cavite – P2.472
9. Rodriguez, Rizal – P2.391
10. Mariveles, Bataan – P2.379

Cainta, the Philippines’ wealthiest municipality in 2019, settled for fourth place in 2020, after reporting a decrease of P1.461 billion in total assets.

A review of its 2020 financial statements showed the municipal government corrected its “receivables” from P1.527 billion in 2019 to just P111.845 million in 2020, causing the drop. This account consists of real property tax receivables and special education tax receivables.  

Limay, Bataan, which was second placer in 2019, earned the top spot in this year’s list.

Tanay, Rizal and Calaca, Batangas were excluded from the top 10.  – Rappler.com