Iloilo has emerged as one of the top 10 richest cities in the Philippines in terms of assets, according to a Commission on Audit (COA) report.
The 2024 Annual Financial Report (AFR) from COA showed that Iloilo City, the economic center of Western Visayas, ranked sixth with P39.5 billion in total assets.
The list was topped by Quezon City with total assets of P490 billion, followed by Makati City (P246.1 billion), Manila City (P92.8 billion), Taguig City (P54.2 billion), and Pasig City (53.8 billion).
Paranaque City ranked seventh with P39.2 billion, followed by Davao City (P37.4 billion), Mandaue City (P35.8 billion) and Mandaluyong City (P34.2 billion).
Among the provinces in the country, Cebu was the wealthiest last year with total assets of P339.85 billion.
Rizal took the second spot with assets amounting to P44.095 billion, followed by Camarines Sur (P33.22 billion), Batangas (P32.61 billion), Cavite (P26.77 billion), and Ilocos Sur with P26.118 billion.
Davao de Oro ranked seventh with P23.35 billion, followed by Iloilo (P22.33 billion), Negros Occidental (P22.15 billion), and P21.92 billion), and Bukidnon (P21.92 billion).
COA’s AFR “summarizes and evaluates the financial condition and performance of government entities in the Philippines.”IMT
