The Commission on Audit released their latest 2014 Annual Financial Report making a list of the Philippines Richest and Poorest Provinces in terms of income. According to the list released by COA, LGUs from Mindanao are considered as the poorest in the country.
Topping the list of richest region is the National Capital Region followed by the Central Visayas or Region 7. Both NCR and Region 7 are considered as regions with the highest assets and total equity.
COA clarified that Equity is the difference between the amount of assets and liabilities of Local Government Units. It is a financial resource that may be saved, or used for local projects such as infrastructures, investments and operating expenses.
In terms of biggest equity, the National Capital Region tops the list with a total of P137.649 billion followed by Region 7 with P61.731 billion and Region 4A (Calabarzon) with P60.509 billion.
Here is the complete list of the regions with their total equity:
– NCR: P137.649 billion
– Region 7: P61.731 billion
– Region 4A: P60.509 billion
– Region 6: P31.026 billion
– Region 3: P30.278 billion
– Region 10: P22.274 billion
– Region 9: P19.369 billion
– Region 1: P17.466 billion
– Region 8: P16.482 billion
– Region 5: P16.182 billion
– Region 2: P14.249 billion
– Region 13: P12.876 billion
– Region 12: P12.769 billion
– Region 11: P12.15 billion
– Region 4B: P9.479 billion
– CAR: P6.455 billion
– ARMM: P4.434 billion