EXECUTIVE SUMMARY

   The Bicol Regional Development Report (RDR) for CY 2006 presents the economic performance of the region vis-à-vis the targets in the Medium-Term Regional Development Plan (MTRDP) 2004-2010.  It also takes in consideration the contribution of the region in the attainment of the 10-point Legacy of the Arroyo administration.  The report has 16 chapters that correspond to the chapters of the MTRDP. 

   The region’s overall economic situation was greatly affected by a series of strong typhoons (Caloy, Milenyo, Reming and Seniang) that hit the region 2006.  Total recorded damages brought by the three typhoons in the latter part of the year reached P7.8 billion with the agriculture sector sustaining the biggest loss at 43 percent of the total.  Massive rehabilitation efforts were provided by national and international entities to facilitate the fast economic recovery of the region.          

   In terms of economic growth, the Gross Regional Domestic Product (GRDP) growth rate slumped to 2.6 percent, the third lowest growth in the country, next to Region 4-B (2.3 percent) and Region 9 (2.1 percent).  The total value of goods and services produced by the regional economy reached P147.8 billion in 2006 prices or P35.4 billion in 1985 constant prices.  The industry sector buoyed up the GRDP with a 4.6 percent growth, mainly from mining and quarrying which grew a phenomenal 38.3 percent.  Growth in the agriculture and fishery sector, which contributed 33.4 percent to GRDP, slumped to 0.7 percent in 2006 from a robust 8.1 percent in 2005.  This was on account of the successive typhoons in 2006, whose negative effects on agricultural output may still be manifested in 2007.  Growth in the services sector, which contributed 43.8 percent to GRDP, decelerated to 3.1 percent in 2006 from 3.5 percent the previous year.

   Below are the highlights of the Bicol’s Contribution to the Accomplishments of the Administration’s 10-Point Legacy:

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