Officials of the Iloilo Provincial Government (IPG) led by Provincial Administrator Raul Banias sat down with the Institute of Contemporary Economics (ICE) represented by Executive Director Bonnie Ladrido today for a macroeconomic briefing aimed at gaining crucial insights into the economic landscape of the country and the province.

The data-driven presentation provided an in-depth analysis of Iloilo’s economic performance, highlighting agriculture, industry, and services as key sectors influencing the province’s growth and development.

The briefing also examined significant economic challenges, including declining agricultural output, inflationary pressures, and investment competitiveness, which are all critical factors in Iloilo’s pursuit of sustainable growth and socio-economic resilience.

Findings revealed that agriculture, despite being a major sector, is experiencing a decline in its share of the local economy, largely due to erratic production levels and climate-related challenges.

Meanwhile, Iloilo’s economic growth is now driven by wholesale and retail trade, financial services, and tourism-related industries, with education and healthcare showing strong potential for expansion.

However, the province and the city continue to experience inflation rates higher than the national average, impacting the cost of living and household purchasing power.

The briefing further emphasized the need for investment-friendly and farmer-supportive policies, including incentives for agriculture modernization, infrastructure development, and strategic industry support to enhance economic stability.

The Iloilo Provincial Government remains committed to data-driven governance, ensuring that economic policies and interventions are aligned with real-time economic conditions.

By leveraging insights from this briefing, the IPG aims to improve public services, create more livelihood opportunities, and implement long-term strategies for economic sustainability, ultimately ensuring that inclusive growth and resilience benefit all Ilonggos.

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