Cebu keeps spot as wealthiest province

MANILA, Philippines — Cebu retained its position as the richest province in the country, the 2016 Annual Financial Report of the Commission on Audit showed.

Cebu widened its gap from the other provinces with total assets of P32.429 billion, up by P2.098 billion from P30.331 billion in 2015.

Rizal was a distant second with P11.73 billion, an increase of P2.184 billion from P9.546 billion. 

Negros Occidental came in third with P11.042 billion.

From sixth spot in 2015, Batangas climbed two rungs as it posted P9.979 billion, an increase of 5.7 percent or P3.571 billion.

Bulacan was also up by two notches with P8.964 billion compared to P6.38 billion in 2015.

Palawan took the sixth place, a spot lower despite an increase in its assets from P6.596 billion to P8.199 billion.

Iloilo was seventh with P8.144 billion followed by Laguna with P7.556 billion;  Nueva Ecija, P7.227 billion, and Leyte, P7.03 billion.

Newcomers Iloilo and Nueva Ecija displaced Cavite and Negros Oriental, respectively.

Richest towns, cities

Meanwhile, Cainta in Rizal remained the wealthiest municipality with assets increasing to P3.511 billion.

Limay, Bataan made the biggest leap from fifth to second place while former second placer Mariveles, Bataan was third.

Sual, Pangasinan and Sto. Tomas, Batangas also dropped by a notch, landing at fourth and fifth places, respectively.

Former seventh placer Tanay took the sixth spot from Taytay, both in Rizal, which fell to 10th place.

Newcomers Claver, Surigao del Norte and Polomolok, South Cotabato were seventh and ninth placers, respectively.

The entry of Claver and Polomolok came at the expense of General Trias and Silang in  Cavite, the ninth and 10th placers, respectively, in the 2015 list.

Quezon City, Makati, Cebu, Manila, Pasig, Taguig, Pasay and Caloocan retained their spots on the list of wealthiest cities.

Davao City took the ninth spot from Iligan City, which was relegated to the 10th spot.