SunStar
Drone shot by Mark Perandos
+ April 29, 2021 THE economy of Davao Region contracted by 7.6 percent in 2020 due to the Covid-19 pandemic but still remains to be the fifth biggest economy in the country, according to the Philippine Statistics Authority (PSA).
National Economic and Development Authority (Neda)-Davao Director Maria Lourdes Lim said this is better than the negative 9.6 percent growth rate of the country. Despite the pandemic, Davao Region remained as the biggest economy in Mindanao with a value of P832 billion, Lim said.
PSA-Davao Region Director Ruben Abaro said during the 2020 Economic Performance of Davao Region virtual presser on Thursday, April 29, that this was measured by the Gross Regional Domestic Product (GRDP) and Gross Regional Domestic Expenditure (GRDE).