Parañaque 7th richest city in Metro Manila

The city of Paranaque was declared as the seventh wealthiest local government unit in Metro Manila while Quezon City is still the richest city in the country in terms of assets, the Commission on Audit’s 2022 Annual Financial Report showed.

The AFR for LGUs aims to provide essential information on the financial condition, performance, changes in equity, cash flows, and comparison of budget and actual amounts of LGUs and the local government sector as a whole.Among 16 cities in the metropolis, Makati City ranked a far second with P239 billion assets, which are light years away from third-ranked Manila’s P77 billion assets.

Pasay City with P17.9 billion assets placed 16th among the 20 wealthiest cities in the country while Valenzuela, P13.3 billion joined the top 20. Within striking distance of the frontrunners is Las Piñas in Metro Manila with P13.2 billion.

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