President Ferdinand Marcos Jr. has signed Republic Act No. 12145, officially reorganizing the National Economic and Development Authority (NEDA) into the Department of Economy, Planning, and Development (DEPDev).
The newly established DEPDev will serve as the primary government agency for planning, policy formulation, and monitoring of development programs nationwide.
Its mandate includes ensuring the efficient and coordinated use of national resources and overseeing the implementation of the public investment program.
DEPDev will also be responsible for setting the country’s long-term vision and crafting a 25-year development framework focused on sustainable national growth.
The department’s secretary, who will act as the government’s chief economist, is tasked with advising the President and the Cabinet on economic matters.
Former attached agencies under NEDA, including the Philippine Institute for Development Studies and the Public-Private Partnership Center, will remain under DEPDev.
The law also mandates the establishment of DEPDev regional offices across the country, excluding the National Capital Region (NCR) and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
To improve coordination between planning and budgeting, the law institutionalizes a mechanism called the “Planning Call,” aimed at ensuring more effective and transparent public fund allocation.
Additionally, the NEDA Board will be reorganized into the Economy and Development Council, to be chaired by the President.
The law will take effect 15 days after its publication in the Official Gazette or a newspaper of general circulation.