From theWebsite of MILF
Cotabato City -- Lanao del Sur's economy thrived in 2023, posting the highest growth rate among all provinces in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to data from the Philippine Statistics Authority (PSA). Its Gross Domestic Product (GDP) increased by a remarkable 5.02%.
This growth rate surpasses the overall regional economic growth rate of 4.3% for the year, signifying a significant economic boost for the province.
Maguindanao del Norte followed closely with a 4.99% growth rate, further highlighting the strong economic performance of the region.
All six provinces in BARMM recorded positive GDP growth in 2023 compared to 2022, indicating a positive trend in the region's overall economic development.
While Lanao del Sur led in growth rate, Maguindanao del Norte contributed the highest share to BARMM's total economic output, accounting for 28.0% of the region's P292.23 billion GDP. Lanao del Sur followed closely with a 25.8% contribution.
The PSA data underscores the positive economic momentum in BARMM, with Lanao del Sur and Maguindanao del Norte leading the way. This growth is a testament to the region's efforts to foster economic development and improve the lives of its residents.
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