Latest News

Gatchalian pushes for institutionalization of NEDA

Senator Sherwin Gatchalian on Sunday urged the National Economic Development Authority (NEDA) to come up with a long term economic plan to secure the economy as he also moves for institutionalizing the almost 50-year old planning agency.


Gathhalian has filed Senate Bill 1060, or an Act seeking to strengthen the current setup of the agency by implementing continuing integrated and coordinated long, medium, and short-term development plans to achieve full employment towards sustainable and inclusive economic growth; equitable distribution of opportunities, income, and wealth; and increased productivity to raise the quality of life.


The NEDA was created under Presidential Decree No. 107 on Jan. 24, 1973 by former President Ferdinand E. Marcos, and was reorganized through Executive Order No. 230 series of 1987 by then President Corazon Aquino.


Gatchalian said it is not enough that the country has a national plan and to effectively implement such a plan; the NEDA must gain independence so that its economic goals are sustained.


He added development goals depend on the sitting administration’s political commitment.


Gatchalian said the participation of public and private sectors at the national and sub-national levels is “very important” in realization of NEDA’s vision of the proposed measure to instill a culture of planning in the formulation and implementation of the country’s economic and development policies.


Under his proposal, NEDA will also enhance the decentralization and strengthen the autonomy of units within various regions of the country to accelerate their economic and social growth and development.


The President of the Republic is the chairman of the NEDA Board that shall meet once every quarter to hold special meetings when there are urgent concerns or emergencies, such as natural disasters, calamities, or other circumstances which would affect the economy and national development.


Together with the Department of Budget and Management and other relevant government oversight agencies, the NEDA Board shall also ensure that the annual and multi-year appropriations for programs and projects are aligned with the development strategies in the Medium-Term Philippine Development Plan and Medium-Term Regional Development Plans, as well as endorse to Congress the integrated development plans and programs which will serve as bases for the annual budget review and deliberation


Source: Philippines News Agency