With agriculture’s feeble growth, is inclusive growth possible?

The farm sector, a key indicator of the Philippines’ ability to post a robust economic growth and lift more people out of poverty, registered a paltry 0.93% growth, far below the 4% to 5% target for the year. Agriculture officials cited the 2-month fishing ban on the overfished parts of the Pacific Ocean near Zamboanga, where tuna and canning industries thrive in southern Philippines. The fishing ban has since been lifted and the agriculture officials remain optimistic of better performance of the sector in the last half of the year, despite the consecutive typhoons and monsoon rain-led floodings that inundated crops and hit the country before the 4th quarter. The performance of agriculture, which has a 15% direct impact on GDP growth and employs a third of the working population, is key to the Aquino administration’s goal of inclusive growth.

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