By Cai U. Ordinario
The national government estimates that once the Bangsamoro basic law (BBL) is passed and fully implemented, the Bangsamoro economy will be able to post a growth of up to 12.8 percent, starting next year.
National Economic and Development Authority (Neda) Regional Office 11 Director Maria Lourdes D. Lim said that under the Bangsamoro Development Plan (BDP), the Bangsamoro economy is expected to grow by 9.7 percent in 2015 and 12.8 percent in 2016.
This trajectory is very far from the average annual growth of 2.7 percent between 2009 and 2013. It is also higher than the 6.3-percent average gross domestic product (GDP) growth nationwide from 2009 to 2013.
“The plan is expected to push the regional economy to achieve double-digit growth rates in the first five years of the creation of the Bangsamoro, with gross regional domestic product per capita rising to P38,000 to P40,000, from the current P29,608. This will further narrow the regional disparities between the Bangsamoro and the rest of Mindanao regions,” Lim said in a DevPlus publication released by the Neda on Monday.
The BDP also stated that, in terms of production sectors, the government targets a growth of 3 percent to 4 percent in the agriculture sector, 6 percent to 6.2 percent in industry; and 5 percent to 7 percent in services by 2016.
The plan also stated that the poverty-incidence rate is expected to decline to 50 percent to 52 percent by 2016. The baseline for the Autonomous Region in Muslim Mindanao (ARMM) is at 55.8 percent and the nationwide average is 25.2 percent in 2012.
In terms of employment rate, the government also expects an increase to 95 percent to 96 percent. This is higher than the average of 95.4 percent for the region and the national baseline of 92.9 percent in 2013.
Underemployment, on the other hand, is expected to decline to 11 percent to 12 percent by next year. The ARMM’s baseline is 12.4 percent, while the national baseline is 19.3 percent as of 2013.
Earlier, Economic Planning Secretary and Neda Director General Arsenio M. Balisacan and Asian Development Bank (ADB) Philippines Country Director Richard Bolt said growth and investment in Mindanao are bound to increase because of the BBL.
Balisacan said Mindanao could maximize its potential as a major economic growth driver for the Philippines. He even said Mindanao can easily grow faster than Metro Manila if this potential is reached.
ADB Philippines Country Specialist Joven Balbosa also explained that, currently, Mindanao contributes about 17 percent of the country’s GDP. However, this is bound to increase if areas in Southern Mindanao will increase their contribution.
Balbosa explained that Northern Mindanao areas, such as Davao and General Santos, already contribute significantly to economic growth due to the tuna, banana and pineapple industries.
The peace agreement will ensure that Southern Mindanao will also unleash its potentials, boosting production of food and mineral resources. It will also open the gates for the Philippines to take full advantage of the Brunei Darussalam-Indonesia-Malaysia-Philippines Eastern Asean Growth Area.
4 comments
Pie in the sky daydreaming, delusional! Whom are you trying to deceive?!
Anybody can concoct any figure to make BBL palatable to the Filipino people who finds
this BBL a DECEPTION, DISASTER AND INSANE proposition to give an outrageous budget of
339 billion in five years to the MILF TERRORISTS AND CRIMINALS for their PROMISE of PEACE?!
The TRUTH and REALISTIC scenario is the rich people of Mindanao are arming themselves for
they said in no way will they give up MINDANAO to the MUSLIMS without a fight, without a WAR!
shut up. drama queen. idiot
Extremely doubtful without good leaders.
growth agad ang pinagsasabi ng mga hibang hindi binilang ang mga papatayin at mamamatay sa knilang panggobyerno kahit muslim na mahihirap pahirapan nila yan…sila pa matagal na nilang ginagawa yan sa mindanaw…..kaya kung pwede lang no to bbl…