RDC 02 adopts revised GRDP and GVA targets
Tuguegarao City (October 9) -- The Regional Development Council (RDC) 02 recently approved and adopted the revised Gross Regional Domestic Product (GRDP) and Gross Value Added (GVA) targets for 2007-2010.
The revision of the GRDP and GVA targets was done in preparation for the updating of the Medium-Term Philippine Development Plan and the Regional Development Plan. The revised GRDP and GVA targets form the 2004-2010 Medium-Term Regional Development Plan targets of the region.
The GRDP targets for 2007 is 6.3, 7.2 in 2008, 8.33 in 2009, and 9.67 in 2010.
The growth targets for 2007-2010 have been revised based on the past GRDP and GVA actual growth rates for the past five years. It was also based on expected sources of growth, corresponding consumptions for the growth, and emanating risks such as typhoons, flash floods, drought or diseases.
The Medium-Term Philippine Development Plan for 2004-2010 spells out the country's vision and goal of development as well as the socio-economic development policies and programs that will be carried out for the next six years.
The implementation of the key macroeconomic and sectoral policies and strategies in the said plan are expected to greatly improve the national economy from its present level and to sustain the momentum beyond 2010. (PIA Cagayan) [top]