CAGAYAN DE ORO CITY (MindaNews / 15 January) – Election-related spendings are expected to boost Northern Mindanao’s economy, which is still trying to recover from losses incurred during the COVID-19 pandemic in 2020, an economic manager here said.
Mylah Faye Cariño, National Economic and Development Authority (NEDA) – Region 10 director, said that spendings tied to the May 2025 elections would most likely benefit media organizations and the advertising and service sectors, including tarpaulin makers and printing presses.
“Even vehicle rental services would stand to benefit as politicians needed these to bring their people around, “Cariño said.
She said the money would cascade to other sectors, pumping the regional economy “still reeling from the COVID-19 pandemic.”
Former President Rodrigo Duterte declared a state of public health emergency in the country due to COVID-19 in March 2020. President Ferdinand Marcos Jr. lifted it in July 2023.
NEDA-10 figures placed the regional economy in Northern Mindanao at P985 billion in 2023, a slight increase from its 2022 output of P935 billion.
A study in 2022 made by Union Bank of the Philippines said that spending during Philippine elections usually spur the economy of about 0.5 % to 1% as households, awash with money, would boost consumption. (Froilan Gallardo / MindaNews)
