ARMM posted 5th fastest growth among PH regions in 2017 | Inquirer Business
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DESPITE MARAWI SIEGE

ARMM posted 5th fastest growth among PH regions in 2017

By: - Reporter / @bendeveraINQ
/ 11:28 AM April 26, 2018

Despite fighting between government forces and Islamic State-supporters that extended for about half a year in Marawi City, the economy of the Autonomous Region in Muslim Mindanao (ARMM) managed to grow 7.3 percent in 2017, the Philippine Statistics Authority reported Thursday.

The growth in gross regional domestic product (GRDP) of the ARMM last year was the fifth fastest across the country’s 17 regions, only outpaced by the Cordillera Autonomous Region’s 12.1 percent, Davao Region’s 10.9 percent, Western Visayas’ 8.4 percent and Soccsksargen’s 8.2 percent.

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The ARMM’s GRDP expansion last year was also a jump from the 0.3-percent growth in 2016, which reversed 2015’s 0.4-percent contraction.

Last December, the state planning agency National Economic and Development Authority (Neda) said the then prolonged martial law in Mindanao would not create an impact on the island’s local economy.

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All regions posted year-on-year GRDP growth rates in 2017: Central Luzon, up 9.3 percent; National Capital Region, 6.1 percent; Northern Mindanao 5.9 percent; Ilocos Region, 5.8 percent; Central Visayas, 5.1 percent; Bicol Region, 5.1 percent; and Zamboanga Peninsula, 2.3 percent.

The Eastern Visayas region posted the slowest growth rate of 1.8 percent.

According to the PSA, the NCR accounted for the biggest share of the country’s gross domestic product last year, with 36.4 percent, followed by Calabarzon’s 16.8 percent and Central Luzon’s 9.7 percent.

The GDP grew 6.7 percent in 2017.

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TAGS: armm, Car, Davao, DRDP, economy, Marawi, martial law, NEDA, Philippine statistics authority
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