MIMAROPA posts poor economic performanceCalapan City, Oriental Mindoro — Region 4-B or MIMAROPA (Oriental Mindoro, Occidental Mindoro, Marinduque, Romblon, Palawan) posted a dismal economic performance for 2015 when its economy decelerated to 1.7 percent from 8.3 in 2014 which could be attributed to the downturn in industry particularly mining operations. In her report, Leni R. Rioflorido, regional director of Philippine Statistics Authority (PSA) said this poor performance has put the MIMAROPA region in 16th place among the Philippine’s 17 regions second only to Autonomous Region of Muslim Mindanao (ARRM) in the bottom. Director Rioflorido said that MIMAROPA posted lower growth rates with a per capita gross domestic product (GDP) estimated at P39,495 in 2015, 47.2 percent lower than the P74,770 national per capita GDP. The GDP measures the economic performance of a region taking data on goods and services produced by all households and establishments which will then be reported in terms of growth rate in real terms or at constant prices, Rioflorido said.

Source: Manila Bulletin August 08, 2016 13:52 UTC