NEDA: ‘All roads lead to AmBisyon Natin 2040’

CAGAYAN DE ORO CITY (PIA)– A stable, comfortable, and secure life for all Filipinos is the driving force from which the nation’s vision is forged. The National Economic and Development Authority (NEDA)-10 held the Northern Mindanao Socioeconomic Media Forum, December 13, and members of the media participated.

Mylah Faye Aurora B. Cariño, NEDA-10 regional director, said, “This is just a summary of our vision: Lig-on, hamugaway, ug kinabuhing may kasiguraduhan mao na ang atong tumong nga kab-uton by 2040 [stable, comfortable, and secure life for all Filipinos is the goal we need to achieve by 2040]. All our efforts and all roads lead to AmBisyon Natin 2040.”

Cariño said there are two elements to this vision: the vision for the country and the vision for oneself.

For the country: by 2040, the Philippines shall have been a prosperous, predominantly middle-class society where no one is poor; people live long and healthy lives, are smart and innovative, and live in a high-trust society.

By 2040, all Filipinos will enjoy a stable and comfortable lifestyle, secure in the knowledge that everyone has enough for daily needs and unexpected expenses, so everyone can plan and prepare for their own and their children’s future. The family lives together in a place of their own, and everyone has the freedom to go where they desire, protected and enabled by a clean, efficient, and fair government.

Cariño said, “In 2018, the Philippines was able to lift more than six million Filipinos out of poverty, and region 10 exceeded our target because instead of just lifting 500 thousand Filipinos out of poverty, we were able to lift 684,000, such that we were able to claim that we have the most substantial reduction in poverty. Nakab-ot nato ang atong target in terms of poverty reduction in 2018 ang atong target for 2022 [we were able to meet our 2022 target in 2018].”

However, the unexpected COVID-19 pandemic posed a serious threat to both health and the economy. The restrictions on mobility, the closing of some establishments, other pandemic-induced losses, and even wars led to a rise in poverty incidence among families from 17.3% in 2018 to 19.2% in 2021.

Inflation also played a role in making the capacity of the people to provide for their own needs difficult.

“Before the pandemic, for two decades lig-on gyud kaayo ang atong ekonomiya [our economy was strong], it was expanding at an average rate of between 6.6% and 6.7%; that momentum was halted when the pandemic came,” said Cariño.

Positively, northern Mindanao’s growth drivers posted significant improvements in the 2022 Gross Regional Domestic Product report. Cariño said the biggest contribution to the economy is from the services sector, which amounts to P509.9 billion, growing by 10.1% and accounting for 54.5% of the three major economic drivers of the region.

Cariño said, “Makita nato nga ang ekonomiya sa Region 10 is service-oriented. Mao na nga maningkamot gyud ta nga wala nay lain nga pandemya, kung naa na pu’y restrictions sa atong mobility, maapektuhan napud ang atong ekonomiya because we are basically a services sector [We can see that Region 10’s economy is service-oriented. That is why we should strive not to have another pandemic; if there are restrictions again on our mobility, our economy will be affected, as we are basically in the service sector].”

Bukidnon remains an agriculture-oriented economy; during the pandemic, it was the most resilient sector. While it only managed a growth rate of 0.5% in 2021–2022, or P186.6 billion, the agriculture output of Region 10 is the 2nd biggest in the country. The biggest contribution in terms of agricultural output comes from Central Luzon.

Northern Mindanao is the leading pineapple, cattle, and hog producer in the country, number 2 in banana, coconut, corn, papaya, and sugarcane production, and 3rd in chicken production.

The region’s economic growth drivers include agriculture, manufacturing, construction, wholesale, and retail trade. The most resilient of these during the pandemic are agriculture and manufacturing, Cariño said.

NEDA also reports significant developments in other sectors, such as a rise in investments, a 92.4% COVID-19 vaccination coverage as of 2022, improvements in health care facilities, an increased completion rate, a decreased drop-out rate among junior high school learners, increased communications cell sites, and the current administration’s 197 infrastructure flagship projects, 12 of which are in Region 10, including the on-going construction of the Panguil Bay Bridge.

Significant improvements in the labor sector also bring a positive outlook for the region’s economy. Underemployment is now at 8.9%, up from 20–25% in previous years. This means that the quality of jobs generated has improved. The Department of Labor and Employment’s 2022 Labor Force Survey Results also reveal that the region has a 95.7% employment rate, or 2.341 million workers.

The dependency ratio also improved over the past two decades, from 72.9% in 2000 to 61.2% in 2020. “Ang working-age population nigamay na ang ilang gisuportahan [the working-age population’s dependents have lessened]. We now have a larger pool of working-age population than dependent population, meaning minors and seniors,” said Cariño.

The regional director added that the Philippine Development Plan 2023–2028’s overall goal is to reinvigorate job creation, accelerate poverty reduction by steering the economy back on a high-growth path, and, more importantly, effect economic and social transformation for a prosperous, inclusive, and resilient society.

“If we can expand the economy and ensure people benefit from that growth, we can reduce poverty. Dapat inclusive ang growth [growth must be inclusive],” said Cariño.