^{[11July 2023] Regional Director Cynthia L. Perdiz (4th from the left) with MAS Staff headed by CSS Florande Polistico (3rd from the left), SOCD Chief Danilo V. Luceña (5th from the left) with SOCD Staff and invited Regional Line Agencies pose for a souvenir photo after the workshop.}

As a follow-up activity to the series of consultation workshops conducted relative to the Provincial Product Accounts (PPA) in Bicol Region, The Philippine Statistics Authority - Regional Statistical Services Office V (PSA RSSO V) conducted the Consultation Workshop with Stakeholders and Validation on the Provincial Product Accounts (PPA) 2018 Benchmark Estimates through hybrid platform participated by Provincial Statistical Offices (PSOs), Regional Line Agencies (RLAs), Local Government Units (LGUs), Academe, Private Institutions, key player establishments and associations on 11 July 2023 at Hotel St. Ellis, Legazpi City, Albay. 

The workshop aimed to achieve the following objectives: a.) Present the economic structure of the provinces in Bicol Region based on the 2018 benchmark PPA estimates; b.) Validate the preliminary estimates and solicit feedback from    
stakeholders; c.) Gather record of important new and list of events to validate the estimates; d.) Gather support and assistance from stakeholders to enhance data support for the completion of PPA; e.) Apprise the stakeholders on the upcoming activities towards finalization of results. As part of the preliminaries of the program, Regional Director Cynthia L. Perdiz highlighted the importance of having the Provincial Product Accounts especially in Bicol Region. She also emphasized the relevance of the involvement of the stakeholders in the process of compiling and estimation of the PPA. 

^{Regional Director Cynthia L. Perdiz, PSA RSSO V gave a welcoming and informative message to the stakeholders and Senior Statistical Specialist Chelo M. Nuyda serves as facilitator during the open forum and discussion.}

^{Chief Statistical Specialist Danilo V. Luceña, PSA RSSO V presents the (2018 PPA Benchmark Estimates) and Chief Statistical Specialist Florande Polistico, PSA MAS addresses the stakeholders on their clarifications regarding the 2018 Benchmark Estimates.}

Chief Statistical Specialist Danilo V. Lucena presented the preliminary results of the 2018 benchmark estimates of the six (6) provinces. Statistical Specialist II Aaron Paolo Uy presented the workshop mechanics. After the workshop, one (1) participant per province was selected to present their workshop outputs that was facilitated by Senior Statistical Specialist Chelo M. Nuyda from the PSA MAS-SEAD.

When asked about their perspective on the share of their provinces to the total regional economy, most of the stakeholders in the 6 provinces, including the regional line agencies answered that the 2018 benchmark estimates are just right. They also provided justifications such as the list of the most notable events in 2018 that contributed to the economy in the said year. SrSS Nuyda also asked some participants during the workshop proper and incited their perspectives regarding other participant's opinion on their respective province's economic performance based on the presented estimates.

"We would like to thank PSA for inviting us in this consultation workshop as it also provided us opportunity to raise issues and concerns that would validate further the estimates for the PPA", Bank Officer II Paulette Gay Menguilla of Bangko Sentral ng Pilipinas Legazpi Branch said in her impression during the said workshop. The Provincial Product Accounts presents the aggregate of gross value added (GVA) of all resident producing units in the province. It serves as a tool in assessing the economic performance of the provinces in the region which can provide tools for sound policy, planning and decision making at the local level.

As a way forward, Philippines Statistics Authority will finalize the benchmark estimates in the succeeding months. After which, PSA will proceed with the estimation of non­ benchmark accounts for the year 2019-2022 on September 2023. The final results of the PPA for 2018 to 2022 of each of the provinces in Bicol Region is targeted to be presented by December 2023 through a dissemination forum.