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Pampanga is PHL's 10th richest province

CITY OF SAN FERNANDO, Pampanga, Nov. 4 (PNA) -- Pampanga belongs to the top 10 richest provinces in the country, according to the latest annual financial report of the Commission on Audit (COA).

Based on the latest COA report, the province located in Central Luzon has an existing asset worth PHP5.59 billion and liabilities of PHP1.35 billion or an equivalent of PHP4.24 billion equity or net worth.

The province of Cebu again topped the list of provinces with a net worth of PHP28.53 billion. It was followed by Rizal, PHP8.11 billion; Negros Occidental, PHP5.6 billion; Laguna, PHP5 billion; Negros Oriental, PHP4.96 billion; Pangasinan, PHP4.76 billion; Cavite, PHP4.59 billion; Batangas, PHP4.5 billion; Leyte, PHP4.45 billion; and Pampanga, PHP4.24 billion.

The City of San Fernando topped the city category in Pampanga with PHP1.54 billion in net worth followed by the highly urbanized Angeles City with PHP1.29 billion and Mabalacat City with PHP546.44 million net worth.

The COA report also showed that the town of Mexico is the richest municipality in this province with PHP298.77 million equity. Mexico registered an asset of PHP373.23 million and liabilities worth PHP72.46 million.

The net worth of the second richest municipality, Lubao is PHP196.61 million, followed by (3rd) Porac with PHP176.66 million; (4th) Sta. Rita, PHP139.92 million and (5th) San Luis, PHP122.39 million.

Apalit landed in 6th place with net worth of PHP99.85 million followed by Magalang, PHP82.94 million; Macabebe, PHP66.49 million; Guagua, PHP63.07 million; Bacolor, PHP59.95 million; Masantol, PHP58.92 million; Candaba, PHP52.83 million; Arayat, PHP52.79 million; and San Simon, PHP51.9 million.

The municipalities with the lowest net worth are Sto. Tomas, PHP45.97 million; Sasmuan, PHP44.90 million; Sta. Ana, PHP38.40 million; Floridablanca, PHP33.74 million; and Minalin, PHP30.03 million.(PNA)
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