Iloilo is PH’s 9th richest province, earns P10B

Based on the 2016 Annual Financial Report released by the Commission on Audit on October 12, Iloilo ranked 7th with P8.144 billion in assets.

Iloilo remained in the list of 10 richest provinces in the Philippines.

Based on the latest financial report of the Commission on Audit (COA), Iloilo generated a total earnings of P10.05 billion in 2017.

The province’s total assets last year was higher compared to its 2016’s haul of P8.14 billion.

Despite the growth, it slipped two notches from 7th to 9th place.

Jean Maire Umadhay, acting provincial treasurer, attributed the increase in assets to their higher tax collections.

According to her, Pavia, Oton, and Cabatuan are among the top tax contributors.

Cebu maintained its number 1 spot. It tallied P34.139 billion in total assets.

Compostella Valley posted a revenue of P18.95 billion, making it the country’s second richest province.

Batangas came in third with P15.568 billion.

Rizal (P14.02 billion) and Negros Occidental (P12.899 billion) landed on the 4th and 5th spots, respectively.

Other provinces that made it to the list include Zambales (P10.455 billion), Bulacan (P10.451 billion), Palawan (P10.159 billion), and Pampanga (P9.53 billion).IMT