By Elias O. Baquero

Wednesday, June 19, 2013

THE economy of Central Visayas in 2012 did not grow as much as in 2011 but it still surpassed the national economic growth rate.

The National Economic and Development Authority (Neda) 7 Director Buenaventura Go-Soco Jr. said the region’s economy grew 7.9 percent in 2012, lower than 2011’s 12.5 percent.

“(But) these figures are higher than those of the country as a whole,” he said.
The national Gross Domestic Product (GDP), the total value of goods and services produced in the country for a certain period, in 2012 was 6.8 percent, higher than 3.6 in 2011.

Go-Soco said poverty incidence dropped to 28.8 percent in the first half of 2012, an improvement from 35 percent in the same period in 2006.

Go-Soco spoke during last Monday’s National Statistics Coordination Board (NSCB) forum, which tackled the 2006 and 2009 poverty incidence figures in Philippine cities and towns.

Poverty

Go-Soco said the national poverty incidence was better than the Central Visayas, though. The national poverty incidence in the first half of 2012 stood at 22.3 percent, slightly lower than 23.4 percent in the same period in 2006.
“Confronted with these figures, we in government ask ourselves countless times, what can we do to improve the situation?” asked Go-Soco.

Go-Soco said questions often arise when high economic growth figures are compared with poverty and employment figures.
Go-Soco said the April 2013 national employment figures released by NSCB did not reflect the growth in the economy.
“When these figures were placed side by side with the sustained GDP growth of 3.6 and 6.8 percent in 2011 and 2012, respectively, and with the 7.8 percent growth in the first quarter this year, many of us were concerned and wondered whether this is what is termed as jobless growth,” Go-Soco said.

He said government programs to address poverty have made effects “but not to the extent we wanted.”
He said that to come up with more effective programs to address poverty, local governments have to help identify strategies that take into account conditions in their areas.

source: news://www.sunstar.com.ph/cebu/local...er-2011-288145