Fri, 18 Sep 2020

NEDA reports good macro'economic performance for CAR until COVID hit

Philippine Information Agency
04 Aug 2020, 16:38 GMT+10

BAGUIO CITY, Aug. 4 (PIA) - - The National Economic and Development Authority (NEDA) reported a good macro - economic performance for Cordillera for fiscal year 2019 but with the COVID - 19 hitting the country in March this year causing setback in the region's economy, stronger and united front among development planners and stakeholders is needed to strengthen resiliency and to put the recovery plan in action.

Regional Development Council vice chairperson and NEDA - CAR Regional Director Milagros Rimando, in a Kapihan media forum, reported that Cordillera performed generally well in achieving the targets set in the regional development goals that include social and human development, sustained economic growth, cultural integrity and cultural identity, physical integration and regional autonomy.

For social and human development, Rimando said poverty rate among families in CAR went down to 8.6 percent from the 17.1 percent data in 2015; the region's employment rate improved to 96.5 percent; underemployed reduced by 23,000 while 17,000 jobs were also generated in 2019, mostly in the service sector.

Reduction on malnutrition prevalence (wasting, stunting, overweight and underweight) was also noted among 0 to 71 - months children and cases of teenage pregnancy also went down in 2019, she added.

On sustained economic growth, Rimando shared that inflation rate went down to 2.2 % in 2019 from the 3.8 % 2018 data. Investments increased based on the data of the Philippine Economic Zone Authority, Securities and Exchange Commission and the Department of Trade and Industry, which translated to more jobs in PEZA firms and micro, small and medium enterprises (MSMEs).

For the other development goals, Rimando shared that in 2019, ancestral domain planning and promotion of indigenous people's rights continued; 156,405 hectares were reforested under the National Greening Program (since 2011); 99 percent of the regional trunkline was completed and paved national roads in the region improved to 94%.

The proposed bill for the establishment of the Autonomous Region of Cordillera was filed in the Senate and House of Representatives while intensified IEC also resulted to increasing awareness and support for Cordillera autonomy.

As the pandemic brings a setback on the region's macro - economic performance, Rimando called on the support of the Regional Development Council members and other development partners in the region in working for economic recovery and for a more resilient Cordillera.

"We should work together not only to support our economic recovery. We have to help one another strengthen Cordillera resiliency. We have to work together so we can bring ourselves back to the path of our vision. The Cordillera Development Vision to have culture and heritage rooted in spirituality, an autonomous region or empowered citizenry in a sustainable development where responsibilities and benefits are equitably shared by all," Rimando stressed.

Based on RDC data, the COVID pandemic resulted to P18.6 billion in losses across all economic sectors and in partnership with the Cordillera Regional Disaster Risk Reduction and Management Council, a COVID - 19 Regional Recovery and Resiliency Plan was already crafted wherein a P33.4 billion fund is needed for the road to recovery. (JDP/CCD-PIA CAR)

As the pandemic brings a setback on the region's macro - economic performance, Rimando called on the support of the Regional Development Council members and other development partners in the region in working for economic recovery and for a more resilient Cordillera.

"We should work together not only to support our economic recovery. We have to help one another strengthen Cordillera resiliency. We have to work together so we can bring ourselves back to the path of our vision. The Cordillera Development Vision to have culture and heritage rooted in spirituality, an autonomous region or empowered citizenry in a sustainable development where responsibilities and benefits are equitably shared by all," Rimando stressed.

Based on RDC data, the COVID pandemic resulted to P18.6 billion in losses across all economic sectors and in partnership with the Cordillera Regional Disaster Risk Reduction and Management Council, a COVID - 19 Regional Recovery and Resiliency Plan was already crafted wherein a P33.4 billion fund is needed for the road to recovery. (JDP/CCD-PIA CAR)

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