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COA: Cebu tops list of richest province

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The Province of Cebu remains to be the richest province in the country based on the Commission on Audit’s 2016 Annual Financial Report on local government units released last week.

Cebu province retained its position with P32.43 billion total assets as of 2016. It was higher than the P30.33 billion total assets it recorded in 2015.

Rizal province was at the distant second with P11.73 billion. Negros Occidental ranked third with P11.04 billion. Batangas province, meanwhile, ranked fourth with P9.98 billion.

Bulacan rounded up the top five with P8.96 billion.

Palawan occupied the sixth spot with P8.20 billion, followed by a newcomer in the list, Iloilo province, with P8.14 billion.

Laguna dropped to eighth spot with P7.55 billion from the fourth spot in 2015 with P6.91 billion in 2015.

Nueva Ejica, also a newcomer in the list, ranked 9th with P7.23 billion.

Leyte province closed the top 10 with P7.03 billion. Leyte also ranked tenth in 2015.