Next Admin Eyes Regional-centered Economic Growth — Incoming NEDA Chief

The next administration aims to increase the contribution of regions in the country’s gross domestic product (GDP) in the next six years, incoming Socioeconomic Planning Secretary and National Economic and Development Authority (NEDA) Director General Ernesto Pernia said.

Pernia made the statement during the special joint meeting of Makati Business Club, Carlos P. Romulo Foundation, US-Philippines Society, and Philippines-US Business Council in Makati City Thursday.

He said there is a need to rebalance the economy — from being Metro Manila-centered to regional-centered economy — to address inequality in the country.

He noted that the Philippines has the highest poverty and inequality incidence in ASEAN.

The next NEDA chief added that despite the robust economic growth in the country, inequality remains high across income and regions.

He cited that Metro Manila, Calabarzon area, and Central Visayas have dominated the economic landscape sharing two-thirds of the country’s GDP.

However, the three regions only account 37 percent of the national population.

Pernia said the 10-point economic agenda of President-elect Rodrigo Duterte will spread out economic activities nationwide to lift more Filipinos out of poverty and address inequality. (PNA) BNB/KMC