Quezon City, for the second straight year, has remained the wealthiest city in the country in 2021 with P451 billion worth of assets, the Commission on Audit (COA)'s Annual Financial Report on Local Governments showed.
Taguig City was the biggest gainer compared with 2020 figures at P36 billion, besting Cebu and Mandaue cities of the Cebu province.
Mandaluyong also improved to 8th place with P31 billion, displacing Zamboanga City and Caloocan City which dropped out of the top 10 richest cities in 2021.Rizal placed second with P30.6 billion, followed by Batangas which had P29.7 billion.Bukidnon with P19.455 billionIsabela with P16.419 billion andRizal's P30 billion assets in 2021 is a P7-billion increase compared with its 2021 record, enough to overtake Batangas.Iloilo, for its part, increased its 2021 assets by P2.
The 215-page report covered the financial statements of 1,676 LGUs including 81 provinces, 146 cities, 1,488 municipalities, 22,680 barangays and the Bangsamoro Government. COA said there was a 97.7% compliance by the country’s 1,715 LGUs in submitting their financial statements for audit.
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