The Philippine Congress has approved a bill that will transform the National Economic Development Authority (NEDA) into the Department of Economy, Planning, and Development (DEPDev). This change aims to strengthen the nation's economic planning and policy coordination.
The Philippine Senate and House of Representatives formally approved the Economy , Planning , and Development Act on Monday, paving the way for the transformation of the National Economic Development Authority ( NEDA ) into the Department of Economy , Planning , and Development (DEPDev). This significant development follows the bicameral conference committee's ratification of the report outlining the provisions agreed upon by both chambers.
The newly ratified measure, designed to elevate NEDA's status to a full-fledged department within the Executive branch, will now be transmitted to Malacañang for President Ferdinand Marcos Jr.'s signature.\The journey towards this legislative milestone began with the Senate's approval of Senate Bill 2848, the Economy, Planning, and Development Act, on December 16, 2024. Subsequently, the House of Representatives followed suit by approving its counterpart bill, House Bill 11199, on January 14, 2025. These measures outlined the framework for the creation of DEPDev, which will assume a pivotal role as the primary policy planning, coordinating, and monitoring arm of the Executive branch concerning the national economy.\According to the approved legislation, DEPDev will be entrusted with the responsibility of formulating the nation's comprehensive, integrated, and coordinated policies, plans, and programs for national development. These initiatives will be presented to the Economy and Development Council (ED Council) for its approval. Furthermore, DEPDev will direct and provide overarching policy guidance on economic matters, aiming to achieve inclusive and sustainable economic growth and development. The department will also ensure the alignment and coherence of national and sub-national policies, plans, and programs, optimizing the utilization of financial and economic resources. It will also oversee the nation's public investment program
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