According to the Commission on Audit (COA) the richest Province in the Philippines is Cebu Province it is based on the recent Report of Commission On Audit The 2014 Annual Financial Report.

In Central Visayas, Cebu is considered as highest in terms of financial capability with over P28.181 billion equity. COA said that Equity means it is the amount of difference between the Liabilities of LGU’S and amount of assets.

Aside from Cebu, there are also provinces who made it to top 5 richest provinces in the country namely The Province of Rizal with over P6.715 billion equity, Cavite with P4.918 Billion, Negros Occidental: P4.741 billion and lastly the Province of Laguna with P4.474 billion.

In the meantime the five provinces in Mindanao is considered as the poorest provinces in the Philippines. This list was released by COA that the last place is the Dinagat Island with P281.293 million in equity and the second to the last in the poorest province of COA is the Batanes province with P285.229 million.