Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan commended President Ferdinand R. Marcos Jr. for establishing the agency and advancing economic governance in the Philippines.
“We thank President Marcos Jr. and our partners in Congress for enacting this vital reform. With DEPDev now institutionalized, we are building a more coordinated, resilient, and forward-looking system of economic governance —one that supports sustained and inclusive growth and brings us closer to our long-term vision of a matatag, maginhawa, at panatag na buhay para sa lahat,” Balisacan said during the ceremonial presentation of the signed law legislating DEPDev’s charter on Thursday.
The President earlier approved the reorganization of the National Economic and Development Authority (NEDA) into the newly established DEPDev.
Marcos signed Republic Act No. 12145, or the Economy, Planning, and Development Act, on April 10, 2025 which strengthens the agency’s mandate, institutional independence, and capacity to serve as the executive branch’s primary body for economic policy, planning, coordination, and monitoring.
The law fulfills Section 9 of Article XII of the 1987 Philippine Constitution, which authorizes Congress to establish an independent economic and planning agency headed by the President and tasked with implementing continuing integrated and coordinated programs and policies for national development.
The DEPDev’s expanded mandate includes aligning national and regional development plans; integrating long-term strategies into the budgeting process; strengthening planning and policymaking capacities across government; and conducting futures thinking and scenario planning to anticipate technological, economic, and global shifts.
The law also outlines DEPDev’s core responsibilities, including formulating the country’s long-term vision and development framework; developing national and regional development plans and reports; implementing public and regional investment programs; producing transparency and accountability reports; establishing a medium-term national evaluation agenda; and preparing an inter-generational report to guide sustainable development.
“The establishment of DEPDev ensures that our development strategies are not only forward-looking but also resilient and inclusive. It bridges past and future policies to secure a stable and upward development path for all Filipinos,” Balisacan said.
The DEPDev is currently drafting the law’s implementing rules and regulations, which are scheduled for release by June 26, 2025. (PNA)
