Bohol exhibited the biggest decrease in Region 7’s poverty incidence between 2009 and 2012. This was reported by OIC-Regional Director Efren Carreon of the National Economic Development Authority (NEDA-7) during the Central Visayas Regional Development Plan (RDP) updating workshop.
Carreon informed that Region 7’s economic growth in 2011 and 2012 exceeded the Central Visayas RDP targets for the same period. The Regional Development Council (RDC) reported to NEDA that the region had the 3rd fastest growing economy in 2011 and 2012 in the country. At 6.8%, it was almost double the 3.6 % national growth rate in 2011. Its 9.3% rate in 2012 was also way above the Philippines’ rate of 6.8 percent.
The Central Visayas economy posted a faster growth compared to that of the national economy in 2010, 2011 and 2012. In 2010, the Philippine economy grew only by 7.6 per cent. In 2011, the country experienced a much slower growth at 3.6 percent, but managed a 6.8 percent growth in 2012.
In terms of share to total GRDP pie, Central Visayas got the 4th largest share.
Central Visayas also ranks third as the top contributor to the country’s economic growth, being a significant contributor to the growth of construction, trade, real estate and other services.
With an updated Bohol development framework, Gov. Chatto is positively confident that Bohol would be able to surpass its targets, not only improving its status as an international learning destination, but more so, “‘the province worth watching for’ for Bohol would be sure to make its mark in this globally-competitive world.”
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