BSP DECLARES MAFAR-BARMM AS OUTSTANDING SOURCE OF INFORMATION

Awarded with the “Dynamic Balance, Philippine Eagle” trophy that was madeby visual artist and multi-awarded sculptor Ferdinand Cacnio, the Ministry of Agriculture, Fisheries, and Agrarian Reform of the Bangsamoro Autonomous Region in Muslim Mindanao (MAFAR-BARMM) is this year’s Outstanding Partner for the Report on Regional Economic Developments in the Philippines, as pronounced by the BangkoSentral ng Pilipinas (BSP).

Minister Mohammad S. Yacob thankfully received the award during the 2019 Awards Ceremony and Appreciation Lunch for BSP Stakeholders in Region XII and BARMM that was held at the Vancouver Room of Sydney Hotel, in General Santos City on August 6, 2019.

Under the Information Support Category, the selection criteria for the award consisted of track record of cooperation, relevance, completeness, and timeliness. The award is given to an institution or agency that steadily provided valuable information to the BSP necessary in the yearly publication of the Report on Regional Economic Developments in the Philippines (REDP).

“We should work harder to sustain this recognition and distinction and be the best ever partner and implementing ministry that we can be”, Dr Yacobhas remarked with high optimism after receiving the award.

Meanwhile, in his keynote address, V. Bruce J. Tolentino, Monetary Board Member and Chairman of the Board of Judges, inspired the group of awardees by giving them his heartfelt gratitude for having been solid partners of BSP. “Thank you for sharing your information, data, and for submitting all the reports. Thank you because without the data, the BSP will not be able to do its work. We will not be able to estimate the requirements for inflation management, exchange rate management, and for ensuring that the banking system is sound and the payment system works,” Monetary Board Member Tolentino further said. He also announced that with the established collaboration and partnership and with the data generously provided, the results are seen as the economy overall is pretty strong and that it is expected that this year 2019, the economy will grow at least 6%.

With the theme “One Team, One Goal: Resilient Partnership Towards Inclusive Economic Growth”, the awarding ceremony was part of BSP’s celebration of its 26th founding anniversary. It was also highlighted by the presentation of Development Indicators in Mindanao by Eva Lynne M. Marcos, Acting Deputy Director of the Department of Economics Statistics and the encouraging messages of Iluminada T. Sicat, Assistant Governor of Regional Operations Sub-Sector and Leonides B. Sumbi, Director of Davao Regional Office.

Fourteen (14) awards including that of MAFAR and the Gold Hall of Fame Award,were given to the outstanding stakeholders in Region XII and BARMM during the ceremony. For the category won by the ministry in BARMM, the finalists were the Philippine Statistics Authority (PSA) Regional Statistical Services Office and the Regional Board of Investment (RBOI).

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