Rep. Jose Francisco “Kiko” Benitez (Neg. Occ., 3rd District) has sponsored House Bill No. 5593 to create a Department of Economics and Development Planning.
This will strengthen the existing functions of the National Economic and Development Authority (NEDA) “to coordinate policies, and to ensure that our country’s economic plans actually work for us all”, Benitez said on Thursday, March 14.
“Through this we hope to make sounder economic policies for our country’s future, for more jobs, better opportunities, and a stronger economy for all,” he added.
The bill strengthens the NEDA Secretariat as the independent and primary economic and planning agency of the government, he also said.
“It also highlights the need to adapt and align our economic policy with global transformations that impact capital flows, production processes and consumption to ensure economic growth and resilience, and sustainable and inclusive development,” Benitez said.*