Imee Marcos: Ilocos Norte’s economy grew by 17%
Ilocos Norte Gov. Imee Marcos has reported a 16.7 percent growth in the province’s economy, which she claimed as a record high compared to the growth rate of the country.
In his 4th State of the Provincial Address (SOPA), the governor highlighted the provincial government’s accomplishments that led to the economic growth of the northern province.
Citing the regional and national growth performance for the period of 2013-2014 by the Regional Development Council, Marcos said Ilocos Norte recorded a 16.7 percent economic growth, as compared to 5.7 percent regional growth and 6.13 percent nationally.
“Today, ours is a strong transitional economy, growing rapidly at 16.7%. With better-planned education, improving public health and social services, our human development index remains high,” Marcos said.
She attributed the progress of Ilocos Norte to its “social capital”: “the great Ilocano network of families, barangays and communities.”
According to the governor, direct foreign investments in wind power contributed much to the rapidly growing economy of the Ilocos region.
In November last year, a total of 412.9 megawatt wind energy went online as wind farms from Burgos, Bangui and Pagudpud, Ilocos Norte commence operation.
Soon, another solar project, aside from the expansion of the Burgos Solar Project phase 2, is expected to supplement the seasonal wind supply of October to March 2016, Marcos said.
Marcos pointed out that from a rising poverty rate in the province which is 24 percent in 1990 to 28 percent in 2010, poverty incidence in Ilocos Norte significantly dropped to 8.4 percent in 2015.
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