Mindanao’s economic growth soars to 5.2 percent

Mindanao’s six regions collectively posted a 5.2 percent growth in 2006, with five of the regions posting higher growth rates, according to figures released by the National Statistical Coordination Board (NSCB). Ever Abasolo, senior economic development specialist at the Mindanao Economic Development Council (MEDCo), told reporters the Mindanao rate is even higher compared with Luzon’s 4.5 percent and the Visayas’s 4.9 percent.

Mindanao’s growth rate was a marked increase from the 4.2 percent in the island’s gross regional domestic product (GRDP) in 2005.

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