Duterte net worth up by P1.1M

MANILA, Philippines — The declared net worth of President Rodrigo Duterte increased by about P1.1 million, based on his latest Statement of Assets, Liabilities and Net Worth.

The Office of the Ombudsman on Friday released Duterte's SALN which showed that his net worth was at P28.54 million by the end of December 2017, according to a report from The STAR.

The president's net worth in December 2016 was at P27.82 million.

His SALN also showed that his assets grew from P28.428 million in 2016 to P29.34 million in 2017, an increase of about P911,458.

The increase in Duterte's assets last year was attributed to higher cash in hand or bank amounting to P19.365 million.

On the other hand, the liabilities of Duterte include a personal loan from Davao businessman Samuel Uy worth P1 million.

In 2017, Duterte's basic monthly salary increased from P165,752 to P222,278, a salary hike which is almost twice that of his predecessor Benigno Aquino III.

The president's basic salary is set to increase further by P298,083 this year and P399,739 in 2019 as part of Aquino's Executive Order 201 which mandates a four-year basic pay upgrading in the bureaucracy.

Duterte's wealth had been the subject of an investigation by the ombudsman over allegations of millions of pesos in hidden wealth. The probe was later on terminated after the Anti-Money Laundering Council "declined to provide a report or confirmation on the requested vital data," the ombudsman said.  — Patricia Lourdes Viray with reports from Elizabeth Marcelo