The National Economic and Development Authority said the creation of the Bangsamoro Autonomous Region will spur growth in the region and contribute to the expansion of the national economy.
The first part of the plebiscite in Autonomous Region in Muslim Mindanao, Cotabato City and Isabela City took place on Jan. 21. It will be followed by another plebiscite on Feb. 6 in Lanao del Norte, except Iligan City, and North Cotabato, as well as local government units that petitioned for inclusion.
Economic Planning Secretary Ernesto Pernia said Wednesday the ratification of the Bangsamoro Organic Law through a plebiscite and the creation of BAR would increase investments in the region.
“Given that the BOL provides a lot of opportunities to increase the budget for BAR, we expect to see more programs and infrastructure projects in the region,” Pernia said.
An estimated P70 billion for the fiscal year of 2019 alone will be provided by the national government as an assistance to the region.
Pernia said the planned major infrastructure projects in the region would cost P22.15 billion in 2019.