CITY OF SAN FERNANDO — The Bangko Sentral ng Pilipinas (BSP) has released statistics indicating that Central Luzon posted a 9.3 percent Gross Domestic Product (GDP) in 2017, making the region the second most progressive in the country.
BSP Department of Economic Statistics acting deputy director Haydee Paulino said the Cordillera Administrative Region posted a 12.1 percent GDP during the period while National Capital Region and Calabarzon each had 6.7 percent.
“The 9.3 percent GDP growth of Central Luzon is equivalent to P845 billion worth of economic productivity. It contributed 9.7 percent to the national economy. Per capita in the region is P73,921 which is the fourth highest among the regions in the country,” Paulino said.
Per capita is the annual computation of minimum income of a working citizen in a particular area.
Monetary Board member Felipe Medalla cited the “robust industrialization and investment spree in the region with the ongoing development of the New Clark City in Tarlac, improvement of the skyline in the Clark Global City inside the Clark Freeport Zone in Pampanga, high consumer spending, and high infrastructure spending.”
Among the big-ticket projects under the Duterte administration’s Build Build Build infrastructure program are the New Passenger Terminal of Clark International Airport, PNR Clark, Central Luzon Link Expressway, and MRT 7.
PNR Clark Line 1 is from Tutuban in Metro Manila to Malolos in Bulacan while Line 2 connects Malolos to New Clark City.
MRT 7 stretches from EDSA-North Avenue in Quezon City to San Jose Del Monte City.
