DAVAO CITY—The Bangsamoro Economic and Development Council (BEDC) discussed the proposed macro-economic targets and sectoral contributions for the formulation of 2nd Bangsamoro Development Plan (BDP) for 2023-2028 on June 27-29, 2022 at Apo View Hotel in this city.
The BDP entails the development plans of the BARMM and its provinces in the next five years. Five sectoral committees of BEDC led the 3-day workshop along with its partners, the Japan International Cooperation Agency (JICA) and The Asia Foundation (TAF).
Resource Person and Consultant of JICA and TAF Ever Abasolo emphasized that in the BDP, it is “not only important that you can update the plan but also for you to own the plan. Because with ownership, it comes with accountability.”
“Macroeconomic targets are important in the BDP process on the operational aspect, which means that the sectoral goal and objectives, directly or indirectly, contribute to the achievement of such targets,” Abasalo said.
In his message read by BPDA Director for Planning and Policies Bureau Melanie Indar, BPDA Director-General Engr. Mohajirin Ali is anticipating that “sectors will have agreed on their sectoral framework which will then serve as the basis for the identification of the doable programs, projects, and activities.”
“We hope to implement [these plans] to achieve the overall development goal of the BARMM. What we are doing now will contribute significantly to a larger purpose as we shape the future of the Bangsamoro,” Ali said.
Indar also mentioned that the workshop focused mainly on BEDC sectoral committees’ target setting and strategy formulation.
“With our high expectations that by November 2022 [to have formulated the 2nd BDP and its accompanying documents], our next activity this coming July will be sectoral committee meetings cum refinement of outputs and formulation write-shop,” Indar recapped.
Moreover, Performance Indicator on macroeconomic targets in the proposed 2nd BDP macroeconomic target includes:
1. Gross Regional Development Product (GRDP), Annual Growth Rate with an average of 7% – 9% increase with a current status of 7.5%;
2. GRDP Per Capita targeting an average of 15% – 20% increase;
3. Annual Average Real Growth Rate of the Services and Industry Sectors of 10%-12% increase with a current status of 5.3% for Services and 10.9% for Industry;
4. Percent Share of Gross Capital Formation to GRDE of 15%-18% increase with a current status of 9.94%;
5. Unemployment Rate of 3%-5% decrease with a current status of 3.9%;
6. Underemployment Rate of 5%-7% decline with a current status of 9.0%;
7. Inflation Rate of 2%-4% decrease with a current status of 2.4%;
8. Poverty Incidence (among families) of 33% – 35% index with a current status of 39.4%; and
9. Poverty gap and poverty severity downward trend in the next 6 years.
BPDA Chief Economic Development Specialist Camella Vera-Dacanay, different BARMM ministries, offices, agencies, and Civil Society Organizations (CSOs) representatives were among the attendees during the workshop. (Kasan M. Usop, Jr./BIO)