The National Economic and Development Authority (NEDA-6) believes that the economy of the Western Visayas (WV) region remained strong in 2018.
“We did well last year,” NEDA-6 director Ro-Ann Bacal told IMT NEWS.
“May konting dent lang sa growth because of the closure ng Boracay pero compensated naman sya. Look at Boracay now, it’s better and cleaner,” she said.
The world-famous island, which draws more than a million local and foreign visitors and generates billions of pesos in tourism receipts every year, was closed for a six-month rehabilitation last year.
Bacal said the undertaking of numerous construction projects and the development of more tourist destinations in WV are among the manifestations of the region’s continued economic prosperity.
The Philippine Statistics Authority (PSA-6) is expected to release the 2018 gross regional domestic product (GRDP) data next month.
In 2017, the economy of Western Visayas grew by 8.4 percent.
The PSA-6 attributed the higher growth to the recovery of the agriculture, hunting, forestry, and fishing (AHFF) sector and the faster growth of the services sector.
The AHFF sector rebounded from negative 1.8 percent in 2016 to 8.8 percent last year. It contributed 1.6 percent to the 2017 GRDP growth.IMT