Cebu wealthiest province for the 6th time

Cebu province has once again topped the list of wealthiest provinces in the Philippines, according to the recent financial report from the state’s auditing body.

In its 2019 Annual Financial Report, the Commission on Audit reported that the Province of Cebu has total assets of 204 billion pesos, making it the wealthiest in the country.

This is the sixth consecutive year that Cebu was named as the richest province in the country.

COA’s latest report also showed that the total assets of the province grew by 472 percent. For fiscal year 2018, Cebu registered total assets amounting to only 35.6 billion pesos.

The second and third wealthiest provinces for 2019, according to COA, were Batangas with 20.8 billion pesos and Rizal with 20.3 billion pesos, respectively.

Cebu City, the province’s capital, retained its spot as the fifth wealthiest city in the Philippines for 2019, based on the same report. The city has assets amounting to 34.7 billion pesos in 2019.

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