In a press conference held on April 27, 2023, NEDA 5 Assistant Regional Director (ARD) Edna Cynthia S. Berces delivered a statement on the Bicol region’s economic performance in 2022, as reported by Philippine Statistics Authority (PSA) Region 5 Director Cynthia L. Perdiz.
Citing PSA estimates, ARD Berces stated that the Bicol region’s economy, as measured by the Gross Regional Domestic Product (GRDP), expanded by 8.1 percent in 2022 from 4.3 percent growth in 2021. “This is above the annual growth target of 6.7-7.7 percent set under the updated Bicol Regional Development Plan (RDP) 2017-2022”, ARD Berces disclosed. 
ARD Berces expounded on the economic contributions of each of the 16 GRDP subsectors, citing data and actual conditions within the region that influenced the change. Among the subsectors, construction recorded the highest change in Gross Value Added (GVA) with a PHP16.03 billion increase, while transportation and storage registered the highest subsector growth of 34.4 percent.
The Bicol Region aims to surpass this feat by steering the economy back on the high-growth path through the implementation of the Bicol Regional Development Plan (RDP) 2023-2028. Anchored on the AmBisyon Natin 2040, the plan targets a GRDP growth rate of 7.0-8.5 percent by 2028, with GVA target growth rates of 1.8-3.3 percent, 8.0-9.5 percent, and 6.4-7.9 percent for the Agriculture, Forestry, and Fisheries; Industry; and Services sectors, respectively.
ARD Berces emphasized that the Bicol RDP 2023-2028 contains strategies and strengthened mechanisms to address gaps that hamper the attainment of the above targets. She further cited priority and high-impact programs, activities, and projects for 2023 to achieve the plan outcomes.
“Bicol has indeed turned the economic crisis brought by the pandemic into an opportunity to recover slowly but strongly and collectively. The region will strive to regain its status as one of the fastest-growing regions in the country and begin the economic and social transformation for a prosperous, inclusive, and resilient society,” ARD Berces concluded.
The regional conference culminated with an open forum where ARD Berces and RD Perdiz answered questions from media partners and other stakeholders.
DRD/kbtl