00:00In the meantime, some House leaders have expressed confidence that the newly established Department of Economy,
00:05Planning and Development will significantly help improve the state of the Philippine economy.
00:10Formerly known as the National Economic and Development Authority, or NEDA,
00:14the agency has now been formally reorganized into a full-fledged department under Republic Act No. 12145.
00:21According to House Committee on Ways and Means Chair Joey Salceda, one of the principal authors of the measure,
00:27the creation of the new department will enable the government to pursue long-term policies and projects
00:33that can yield greater returns for the Filipino people,
00:37and emphasized that the new department strengthens the country's ability to anticipate and respond
00:41to technological shifts, economic disruptions, and global uncertainties.
00:46In the meantime, House Committee on Government Reorganization Chair Jonathan Keith Flores,
00:51the principal sponsor of the NEDA bill, said that the department will play a key role in addressing poverty.
00:57Flores also believes that current issues such as the imposition of reciprocal tariffs by the United States
01:02can now be handled more effectively with the help of the new law.
Comments