BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 137
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Market Indicators AS OF 6:00 PM APRIL 29, 2022 (FRIDAY)
FOREX
PHISIX
US$1 = P52.12
6,863.91
X Briefly
YOUR MINDANAO-WIDE BUSINESS PAPER
X
0.13
116.11
cents
points
Davao recovers
IN-DEPTH
Mon-Tue|May 2-3, 2022
P15.00
NorMin economy recovers with 6.3% growth in 2021 By ERCEL MAANDIG, Reporter and FRANCK DICK ROSETE, PNA
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DAVAO City – Davao Region's economic performance in 2021 recorded a high of 5.9 percent, a significant increase from the negative 7.5 percent in 2020. With steady prices in 2018, the region's economy was valued at P882 billion in 2021 from about P833.2 billion in 2020 with an increase of P48.8 billion. The level still falls short of P18.5 billion compared to the one recorded in 2019, during the pre-pandemic period.
OLLOWING the devastation wrought by the pandemic in the last two years, Northern Mindanao's economy has bounced back posting a 6.3 percent growth, officials said Friday.
Compensation Act MARAWI City's civic leaders and organizations lauded Wednesday President Rodrigo Duterte's signing of Republic Act 11696, or the Marawi Siege Compensation Act of 2022. In a statement, International Alert Philippines (IAP), the secretariat of Marawi Reconstruction Conflict Watch (MRCW), said the Marawi Compensation Act establishes a precedent for future victims of war and destruction. "Through this law, no victim shall be left uncompensated. We celebrate this milestone with the IDPs (internally displaced persons) and victims of the Marawi war for this hard-earned victory," IAP said.
Health workers benefits PRESIDENT Rodrigo Duterte has signed into law a measure granting mandatory continuing benefits to public and private health workers during the coronavirus disease 2019 (Covid-19) pandemic and other future public health emergencies. Republic Act (RA) 11712, inked by Duterte on April 27, covers all healthcare and nonhealthcare workers, regardless of employment status, during the Covid-19 or other public health emergencies that may be declared in the future, from the time of the declaration of the public health emergency until lifted by the President. Under RA 11712, health care and non-healthcare workers are referred to as individuals working in medical facilities and vaccination sites, as well as those involved in Covid-19 response efforts, outsourced personnel exposed to Covid-19.
FARMERS’ MARCH. More than 30 farmers – including 10 from Sumilao, Bukidnon – from eight rural organizations on a march-caravan supporting the presidential and vice-presidential bid of Leni Robrero and Kiko Pangilinan arrive in Calamba City last week. Starting their march in Bukidnon, they have been on the road since March 28, generating support from voters for good governance against hunger and poverty. They will reach Manila on May 1. photo contributed by jimmy a . domingo
BARMM tops regions in 2021 agriculture growth by value THE Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) posted the top growth rate in 2021 among the regions for agricultural output by value, the Philippine Statistics Authority (PSA) said. B A R M M ’s v a l u e o f production in agriculture and fisheries grew 7.2% at constant 2018 prices, the PSA said. This was followed by the Central Visayas with a
growth rate of 5%, Mimaropa 3.5%, Northern Mindanao 2.9%, Western Visayas 2.8%, Cagayan Valley 2.3%, and Zamboanga Peninsula 1.7%. Meanwhile, Calabarzon output by value contracted by 13.3%, followed by Central Luzon (9.2%), Caraga (6.8%), Bicol (4.8%), Ilocos (3.4%), Cordillera Administrative Region (2.8%), Davao (0.9%), Eastern Visayas (0.7%), and Soccsksargen (0.6%). In the crops subsector,
C agayan Va l le y p oste d growth of 5.9%, followed by Mimaropa and Central Visayas with 4.9% each. In livestock and poultry, Mimaropa posted the top growth rates of 15.4% and 9.3% respectively. The value of fisheries production was highest in BARMM at 22.8%, followed by Davao with 12.2% and Central Luzon 12.1%. Central Luzon accounted GROWTH/PAGE 10
In a statement, Mylah Aurora Faye Cariño, director of the National Economic Development Authority in Northern Mindanao (NEDA-10), said the growth rate surpassed their projection between 5.1 percent and 6.1 percent. "We didn't expect that our growth would even surpass our estimates, and more importantly, the growth was even higher than the nominal value of our GRDP (Gross Regional Domestic Product)," Cariño said. "It was even higher than the prepandemic figure, and the net gained was ECONOMY/PAGE 10
Gov’t urged to include compensation for Marawi siege victims in GAA By FROILAN GALLARDO, MindaNews
MARAWI City – The General Appropriations Act (GAA) must include an allocation for the compensation of victims of the five-month l o n g M a r aw i s i e g e i n 2017 to ensure payment for the affected residents, Musa Sanguila, director of Pakigdait, a peace-building civil society organization said. “Without the money, compensating the residents
wou l d b e n ot h i ng but cheap words,” Sanguila said Wednesday. The GAA sets the budget for all government expenditures in a given year. President Rodrigo Duterte signed Republic Act No. 11696, or “An Act Providing Compensation for the Loss or Destruction of Properties and Loss of Lives as a Result MARAWI/PAGE 10
MINDANAO'S TALLEST. Workers install a signage of a 36-story condominium in Davao City on Thursday. Once completed, this high-rise building will become the tallest structure in Mindanao. mindanews photo
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