MANILA -- Quezon City is still the Philippines' wealthiest city in terms of assets, a 2022 report from the Commission on Audit showed.
According to state auditors, Metro Manila's largest and most populous city has assets totaling P443.406 billion, down from the P451.007 billion it had in 2021. Cebu, meanwhile, also retained its place as the country's richest province, with assets of up to P235.738 billion, up from the P215.27 billion it had last year. The town of Carmona in Cavite is also still the country's richest municipality, with P6.522 billion in assets. The wealthiest municipalities in the Philippines are as follows:
The figures are included in the 2022 Annual Financial Report for Local Government prepared by COA, as mandated by the Constitution and the Government Auditing Code of the Philippines. The report covers financial statements of 1,685 or 98.25 percent of the 1,715 local government units, consisting of 81 provinces, 147 cities, 1,487 municipalities and the Bangsamoro government composed of 27 ministries and offices.
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