Slow growth alarms Eastern Visayas bizmen-A A +A
Saturday, April 28, 2012
MACROHON, Southern Leyte -- Local business chambers are concerned over the slow growth of Eastern Visayas’ gross regional development product (GRDP) and its per capita income, which is lower than its neighboring regions.
Robert Castañares, president of the Southern Leyte Chamber of Commerce and Industry (SLCCI), said they wonder why there has been a consistent decline of GRDP growth momentum between 2004 and 2009.
“The National Government is actively involved in social services and infrastructure programs but not that much in economic development. That partly explained why in 2004 to 2009 our economy has not improved and poverty incidence has gone up,” Castañares told participants of the 2nd Eastern Visayas Regional Business Conference held in Kuting Reef here this week.
Citing latest available data from the National Government agencies, the business group disclosed that from 5.2 percent GRDP growth in 2004, it went down to 1.8 percent in 2009. The growth rate recorded in 2009 is way below than the 6.3 percent target.
The region’s per capita income is only P7,400 just half of Western Visayas’ P14,500 and Central Visayas’ P15,300. The National Capital Region’s per capita is P38,600. (Sunnex/(Leyte Samar Daily Express))