CV had fastest growth at 7.3%

CEBU, Philippines — All economies of 17 regions continued to record positive growth in 2023 with Central Visayas posting the fastest growth at 7.3% in 2023, according to the Philippine Statistics Authority (PSA).

Western Visayas ranked second at 7.2%, followed by Ilocos Region at 7.1%.

Central Visayas and the two other regions exhibited higher growths than the national level growth rate. It is also at the top three in terms of household spending at 5.9%. Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) posting the highest growth rate on this at 7.5% while CALABARZON has 6.0%.

At the national level, per capital GDP growth rate in 2023 was registered at 4.3%.

Western Visayas topped the regional economies with 6.5% per capita growth rate followed by Ilocos Region at 6.4%, Central Visayas at 6.15%, and Cordillera Administrative Region at 6.14%.

At the national level, the Gross Domestic Product (GDP) grew by 5.5% in 2023, a slowdown from the 7.6% growth in 2022, with all 16 major industries recording positive growths.

The top industries with the highest growths include accommodation and food service activities, 23.2%; other services like arts, culture and recreational activities, personal services at 20.8%; and transportation and storage with 13.0%.

At the expenditure side, the expenditure items with highest growths were: gross capital formation, 5.9% followed by household final consumption expenditure, 5.6%; and exports of goods and services, 1.4%.

In terms of regional performance for services in 2023, the National Capital Region registered the biggest share at 41.4%.

Central Luzon topped the share for agriculture, forestry at 13.9%, followed by Northern Mindanao and Western Visayas at 10.4% and 8.9%, respectively.

On government spending, Northern Mindanao topped among the regions at 4.3%, followed by Davao Region at 3.8%, MIMAROPA Region at 3.5%, and Caraga and SOCCSKSARGEN at 3.38% and 3.35%, respectively.

Western Visayas posted the fastest growth on gross capital formation at 12.9%, followed by CALABARZON at 9.65%, and Cagayan Valley at 9.58%.

Meanwhile, Cebu Governor Gwendolyn Garcia urged the PSA to revisit its methodology in identifying provinces with the highest number of poor Filipinos.

During a meeting between Garcia, National Statistician Undersecretary Dennis Mapa, and other PSA officials, the governor expressed dissatisfaction and frustration at PSA’s report in January that showed Cebu had the highest number of poor Filipinos with 1.7 million during the first semester of 2023.

Garcia said the Cebu provincial government has undertaken efforts to address the poverty in the province by implementing pro-poor programs to improve the lives of Cebuanos.

Garcia mentioned the Sugbo Negosyo program that helps the micro entrepreneurs in the province boost their businesses and the Sugbo Kahanas which provides a free skill training program to Cebuanos, as some of the Capitol’s program to help its constituents.

Garcia urged Mapa and other PSA officials to reassess their methodology especially in data gathering to ensure accuracy on the real situation on the ground.

She also urged them to coordinate with the local government units in Cebu to facilitate accurate data collection.

In a report of Sugbo News, Capitol’s news arm, Mapa said the COVID-19 pandemic and the impact of supertyphoon Odette could be the reason for the result of the data reported by the agency. However the governor argued that it’s not only Cebu Province that was hit by the pandemic and the island quickly recovered from the devastation of the typhoon

Mapa said they will comply with Garcia’s request and also informed her that PSA will start its census from May to September this year. – /BRP (FREEMAN)