The capital of the Central Visayas Region or Region 7, Cebu Province is considered by the Commission on Audit as the richest province in the Philippines based upon the latest 2014 Annual Financial Report of the Commission on Audit (COA).
Cebu Province in Central Visayas is highest in terms of financial capability with P28.181 billion equity. According to COA, Equity is the difference between the amount of assets and liabilities of LGUs.
Aside from Cebu Province, the other provinces who made it to Top Five Richest Provinces in the country are the Province of Rizal, Cavite, Negros Occidental and Laguna.
Meanwhile, a total of five provinces in Mindanao ranked as the poorest provinces in the Philippines. Dinagat Islands in came last on the list released by COA with only P281.293 million in equity, Batanes province came in second place with P285.229 million equity.
– Region 7, Cebu: P28.181 billion
– Region 4 Rizal: P6.715 billion
– Region 4A, Cavite: P4.918 billion
– Region 6, Negros Occidental: P4.741 billion
– Region 4, Laguna: P4.474 billion
– Region 4, Batangas: P4.381 billion
– Region 1, Pangasinan: P4.225 billion
– Region 7, Negros Oriental: P3.951 billion
– Region 2, Isabela: P3.909 billion
– Region 3, Pampanga: P3.883 billion