ARMM posts record 7.3% GRDP growth rate
THE AUTONOMOUS Region in Muslim Mindanao (ARMM) posted a record 7.3% gross regional domestic product (GRDP) growth rate in 2017, up from 0.40% a year earlier, boosted mainly by the recovery of the Agriculture, Hunting, Forestry, and Fishing (AHFF) sector.
The 2017 GRDP performance was the highest growth rate in the region’s history since its establishment in 1990. It surpassed the 2017 national economic average of 6.7 %.
In 2015, ARMM posted a minus 0.40% GRDP growth rate.
Regional Governor Mujiv Hataman, in a statement, said he is grateful for the “good news” delivered by Philippine Statistics Authority (PSA)-ARMM OIC Regional Director Razulden A. Mangelen in a press conference on Thursday, April 26.
Mr. Hataman said the region’s growth in 2017 will “set the benchmark for the Bangsamoro transition,” with Congress expected to pass the Bangsamoro Basic Law (BBL) when it resumes session in May.
If approved, the BBL will establish a new geographic and political entity that will replace the ARMM.
“I am happy because we will be entering into a transition from ARMM to Bangsamoro government with a track recod of growth. This will also be a challenge for those who will lead us next,” Mr. Hataman said.
National Statistician Lisa Grace S. Bersales, who attended the GRDP press conference in ARMM, commended the efforts of the regional government.
“We thank the government of Governor Hataman for being our source of information and for helping us advocate for proper data which enabled us to give the right information,” Ms. Bersales said.
ARMM is 6th among the 17 regions in the country in terms of GRDP growth in 2017.
The AHFF sector, the main driver of the region’s economy, grew 15.5% from 4.3% previously, with the fishing subsector recovering to a 4.5% growth from minus 8.7%.
The ARMM remains one of the largest producers of fish in the country with an output of 4.3 million tons, and seaweed volume of 4.7 million tons in 2017.
The PSA-ARMM also noted the improved performance of the industry sector, where growth rose to 10.3% from 5.7%. The industry sector includes mining and quarrying, manufacturing, construction, and electricity, gas and water supply.
Growth in the service sector improved to 9.6% from 8.2%. —