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Article: CEBU CITY NO.1 IN INCOME/DEBTS AMONG 102 PHILIPPINE CITIES.
- Article from:
- AsiaPulse News
- Article date:
- September 22, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CEBU CITY, Sept 22 Asia Pulse - Cebu City has the highest total net income among 102 cities in the country with P462.5 million (US$8.2 million).
Ironically, the city also has the highest amount of liabilities at P3.62 billion, representing loans, accounts and expenses payables.
The listing, prepared by the Commission on Audit (COA), which came in the form of a paid advertisement on Monday, did not include the 13 cities in the National Capital Region.
COA's 2003 nationwide ranking showed that while Cebu City, a highly urbanized city, made P462.5 million in 2003, the amount failed to surpass what Davao City earned in the same year.
The ...