The Senate on Monday approved on third and final reading a bill reorganizing the National Economic Development Authority (NEDA) into the Department of Economy, Planning and Development (DEPDev).
Senate Bill 2848 or the Economy, Planning, and Development Act was approved with 18 affirmative votes, zero negative votes, and zero abstention.
Under the bill, the DEPDev shall be the primary policy planning, coordinating, and monitoring arm of the Executive Branch of the government on the national economy.
It is mandated to formulate the country’s continuing, integrated, and coordinated policies, plans, and program for national development for approval by the Economy and Development Council (ED Council).
The department shall ensure the vertical and horizontal alignment and coherence of national and sub-national policies, plans, and programs towards optimal use of financial and economic resources, and oversee the country’s public investment program.
It shall also general and provide impartial, objective, and evidence-based analyses and recommendations for the socio-economic betterment of the nation.
The bill was sponsored and defended by Senator Juan Miguel “Migz” Zubiri, the chairperson of the Senate committee on economic affairs.
After the approval of the bill, Zubiri thanked his colleagues for their support for the passage of the measure, saying this is not only a win for NEDA, but for the country.
“With DEPDev at the helm, we can look forward to better economic planning, implementation which will translate to more jobs, more income, and more development on the ground,” Zubiri said. — BM, GMA Integrated News
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