Socioeconomic Planning Secretary Arsenio Balisacan called for elevating the National Economic Development Authority (NEDA) into a department during the first public hearing of the Economy, Planning, and Development Bill on Wednesday at the House of Representatives.
“The proposed legislative measure strengthens and streamlines the powers and functions of the economic and planning agency of government, mandated by the Constitution to implement continuing and coordinated policies for national development,” Balisacan said.
Balisacan said that the reorganization of NEDA Secretariat into the Department of Economy, Planning and Development (DEPDEV) would enable the institution to fulfill its expanded mandate more effectively to help shape and shepherd the nation’s social and economic development.
“Over the years, the public has expected the agency to play a greater role in shaping the nation’s economic and social development amid complex challenges. To effectively and efficiently perform this expanding mandate, NEDA needs to be reorganized into the DEPDEV,” Balisacan said.
Balisacan pointed out that in a fast-changing and increasingly complex world, the institutions playing a role in our country’s economic governance must evolve to meet the needs of the times.
“We hope that Congress will recognize that the reorganization of NEDA into the DEPDEV will help our institution fulfill its mandate to serve the country and bring us closer toward the matatag, maginhawa, at panatag na buhay that we all aspire for,” Balisacan said.
Former President Corazon Aquino organized the NEDA on July 22, 1987 through Executive Order No. 230 that defined the composition of the NEDA Board and the Secretariat and its powers and functions.
Since then, the NEDA acted as the country’s premier socioeconomic development planning and policy coordinating body primarily responsible for formulating continuing, coordinated and fully integrated social and economic policies, plans, and programs.
But the original law that created NEDA was the Presidential Decree No. 1 that was issued by former President Ferdinand E. Marcos on September 1, 1972 that was dubbed as Integrated Reorganization Plan that organized the NEDA from the merger of the Presidential Economic Staff and the National Economic Council.
