The Philippine Statistics Authority (PSA) conducted a Workshop with stakeholders on the compilation of the Provincial Product Accounts (PPA) last 09-10 March 2023 with the primary aim of gathering the stakeholders’ perception regarding the economic situation of Bicol Region and its provinces.
The workshop was attended by representatives from various sectors, including provincial government offices in the Agriculture, Planning and Development, Engineering, Tourism, and a key player establishment in the province. The participants were briefed on the importance of PPA in measuring the economic performance of provinces, and how it can be used for policy decisions.
The PPA aim to present a comprehensive picture of the economy of the province by providing a more appropriate measure and assessment of economic performance of Catanduanes, such as the Gross Domestic Product (GDP). Through PPA, stakeholders can monitor the economic development at the local level and assess the progress through time.
During the workshop, participants engaged in the discussions on the data requirements for the compilation of PPA and possible data sources as well as the challenges in gathering accurate and timely data. The participants also provided valuable inputs on the positive and negative events in their respective provinces that could affect their economic situation.
The briefing workshop with the stakeholders is a step forward towards the pilot compilation of the Provincial Product Accounts in Catanduanes this 2023 and its institutionalization in the following years.