Davao Region’s economy contracts by 7.6% in 2020

Davao Region’s economy contracts by 7.6% in 2020

THE economy of Davao Region contracted by 7.6 percent in 2020 due to the Covid-19 pandemic but still remains to be the fifth biggest economy in the country, according to the Philippine Statistics Authority (PSA). National Economic and Development Authority (Neda)-Davao Director Maria Lourdes Lim said this is “better” than the negative 9.6 percent growth rate of the country.