W. Visayas Economy Grows by 4.3% Amid Regional Changes
Iloilo City: The economy of Western Visayas expanded by 4.3 percent in 2024, a deceleration from the 6.8 percent growth recorded in 2023, as reported by the Philippine Statistics Authority (PSA) on Tuesday. This slower growth is attributed to the exclusion of Negros Occidental and Bacolod City, now part of the newly formed Negros Island Region (NIR). According to Philippines News Agency, PSA Western Visayas chief statistical specialist Nelida Amolar explained that this growth rate corresponds to PHP641.76 billion. Despite the slower pace, the gross regional domestic product (GRDP) for 2024 is PHP26.5 billion higher than the previous year’s GDP