Western Visayas ranks third for fastest economic growth in 2017

Posted by watchmen
April 30, 2018
Posted in HEADLINE

According to a release by the Philippine Statistics Authority (PSA), the Western Visayas region ranked third in the country in terms of the fastest economic growth in 2017, registering 8.4 percent.

The survey found Cordillera Administrative Region topped the rest of the country with 12.1 percent, followed by the Davao region at 10.9 percent.

PSA reported all 17 regions posted positive numbers, with the Eastern Visayas coming in last at 1.8 percent.

The Central Visayas, which includes Negros Oriental, posted growth at 5.1 percent.

Based on an Asian Development Bank (ADB) report, the Philippines is expected to see overall growth of 6.8 percent in gross domestic product, or the total value of goods and services, for their 2018 projection.

The figure keeps the country close to the top when compared to Southeast Asian contemporaries, with Vietnam topping the list at 7.1 percent./WDJ

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