MANILA, Philippines – President Ferdinand Marcos Jr. on Thursday, April 10, signed into law a measure that will transform the National Economic and Development Authority (NEDA) into a department.
Republic Act 12145 or the Economy, Planning, and Development Act reorganizes NEDA into the Department of Economy, Planning, and Development (DEPDev).
According to NEDA Secretary Arsenio Balisacan, his agency’s conversion into a department strengthens its institutional independence and mandate as the country’s primary socioeconomic planning agency. He also thanked Marcos and Congress for the passage of the bill.
“By institutionalizing the DEPDev, we are committing to a future-ready, well-coordinated, and institutionally robust system for economic governance — one that can help drive sustained and inclusive growth and help us progressively realize our nation’s long-term vision of a matatag, maginhawa, at panatag na buhay para sa lahat (stable, comfortable and secure life for all),” Balisacan said.
He added that the passage of the legislation fulfills Section 9, Article XII of the 1987 Constitution, which urges Congress to establish an independent economic and planning agency.
DEPDev will by led by a secretary, and will be headed by at least five undersecretaries and five assistant secretaries. NEDA’s board is currently chaired by the President, with its secretary as vice-chair.
The new law institutionalizes DEPDev’s mandate to conduct “futures thinking and scenario planning exercises” to allow the government to anticipate and respond to economic disruptions and global uncertainties.
It also institutionalizes “planning calls” to establish clear guidelines and accountability mechanisms in the planning, budgeting, and monitoring and evaluation process. This initiative aims to reduce inefficiencies and delays within the government, as well as ensure that public resources are allocated to the most impactful social programs.
DEPDev will also be tasked with working with the Department of Budget and Management to align budget appropriations with long-term development goals.
The measure was passed by the Senate in December 2024 and the House of Representatives in January.
House Ways and Means Committee Chair Joey Salceda earlier said DEPDev would ensure independent economic planning and governance.
“An independent economic planning department means, while we may differ politically, our decisions will be based on facts, evidence, and a long-term view of the country’s prospects,” he said.
DEPDev can trace its roots to the National Economic Council established by the National Assembly in 1935. NEDA, as currently named, is an independent Cabinet-level agency established through Executive Order 230, s. 1987. – Rappler.com