A viral Facebook post claiming that Pasig City's net worth leaped to P19 billion in 2019 has been fact-checked by Philstar Biz, which found the assertion misleading. The post, which circulated widely, misrepresented the city's financial standing and the nature of its reported assets.
According to the Commission on Audit (COA) data cited by Philstar Biz, the actual net worth of Pasig City in 2019 was significantly lower than the viral figure. The P19-billion amount appears to be a misinterpretation of the city's total assets, which include property, equipment, and other holdings, rather than net worth after liabilities.
The fact-check also noted that the viral post failed to account for the city's liabilities, which would substantially reduce the net worth. The misleading claim underscores the need for careful reading of financial statements and reliance on official sources like COA for accurate fiscal data.