VOL. 7 ISSUE 205 • WEDNESDAY-SATURDAY, DECEMBER 31, 2014 - JANUARY 3, 2015
P 15.00 • 20 PAGES
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LET’S GET LOUD. A vendor blows on a gigantic hornpipe that he is selling to attract customers at Agdao Public Market in Davao City yesterday. Hornpipes (“torotot”) has become the leading alternative noisemaker to firecrackers after the city strictly implemented City Ordinance 060-02, Series of 2002, or the Firecracker Ban, 12 years ago. Lean Daval Jr.
GROWTH IN 2015
NEDA 11 sees higher GRDP
By CHENEEN R. CAPON
N
crc@edgedavao.net
ATIONAL Economic Development Authority (NEDA) 11 regional director Maria Lourdes Lim expects an increase in Davao Region’s economic growth this year. Lim said NEDA’s latest estimated Gross Regional Domestic Product (GRDP) from first to third quarter of 2014 reached 7.2 per-
cent. This is higher than the regional plan target of 7 percent 2014 and 6.3 percent economic growth posted last year. “We are expecting almost the same economic growth that will be within the range of 6.8 percent and 7.5 percent by the end of the year,” Lim said. If this projection happens, this will be the third
time the region will surpass its target growth. Lim said based on GRDP estimates, the growth economic drivers are financial intermediation at 15.9 percent growth; construction at 14.2 percent; real estate, renting, and business activities at 12.4 percent; trade at 9.7 percent; and manufacturing at 8.5 per-
cent. Lim said the services sector, which grew by 6.6 percent in 2013, will be the major contributor in order for the region to achieve the 7.2 percent 2014 economic growth. Under the tourism industry, NEDA 11 recorded an increase in the tourist arrivals by 3.04 percent
FGROWTH, 11
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