Cotabato
City (April 25, 2019) - The Autonomous
Region in Muslim Mindanao (ARMM), which now make up the core territory of the
Bangsamoro Autonomous Region, ranked fifth among the 17 regions in the country
in terms of regional economic growth for year 2018.
This was announced by Razulden
Mangelen, Director of the Philippine Statistics Authority – BARMM, during a
news conference held here on Thursday, April 25. He said that in 2018, the
region has posted a 7.2 percent growth rate in its Gross Regional Domestic
Product (GRDP).
With 55.6 percent contribution,
Agriculture, Hunting, Forestry and Fishing (AHFF) remained to have the largest
share in the region's total economic performance. It is followed by the
Services sector with 38.5 percent, and Industry sector with 5.9 percent.
“ARMM or the now BARMM, remains as
persistent and predominantly agriculture based,” said Mangelen.
In 2015, the ARMM’s economy contracted
and registered a negative 0.4% growth rate. It partially recovered in 2016 with
a positive 0.3% increase. While in 2017, its growth rate peaked at 7.3% – the
highest economic growth rate in the region’s history.
In his message read by Finance Minister
Eduard Guerra, Bangsamoro Chief Minister AlHaj Murad Ebrahim said the region's
growth rate proves that the Bangsamoro can be at par with other regions.
"This is a great development for us. Your Bangsamoro Government vows to
continue this feat as part of our moral governance," he said.
Since the establishment of the new
Bangsamoro government, Ebrahim said investors have signified their interest in
investing in the region. “Numerous entities have trusted and showed support in
generating jobs for the Bangsamoro people. It will help with the growth of our
GRDP,” he said.
He ended his speech by directing all the
Bangsamoro ministries to “have an in-depth study and find the factual causes in
order to provide a real solution to the poverty situation in the BARMM”. (By JONG CADION with PR from Bureau of
Public Information)
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