aotg

• National Economic and Development Authority (NEDA)


  • The Philippine's social and economic development planning and policy coordinating body
  • The country's independent economic development and planning agency
• NEDA


  • Headed by the President of the Philippines as chairman of the NEDA board
  • Secretary of Socio-Economic Planning, concurrently NEDA Director-General, as vice-chairman
  • Includes a number of Cabinet members, the Governor of the Central Bank, the Chairman of the Metropolitan Manila Development Authority, the Governor of the Autonomous Region in Muslim Mindanao, the Chairman of the Commission on Information and Communications Technology, the Chairman of the Subic-Clark Area Development Corporation, the National President of the Union of Local Authorities of the Philippines as members of the NEDA Board
• Powers & Functions of NEDA


  • The country's premier socioeconomic planning body
  • Highly regarded as the authority in macroeconomic forecasting and policy analysis and research
  • Provides high-level advice to policymakers in Congress and the Executive Branch
• Section 1608 CMTA Flexible Clause


  • Empowers the President, upon the recommendation of NEDA, to:
  • Increase, reduce, or remove existing rates of import duty including any necessary change in classification
  • Establish import quotas or ban imports of any commodity, as may be necessary
  • Impose an additional duty on all imports not exceeding ten percent (10%) ad valorem whenever necessary
• Bangko Sentral ng Pilipinas (BSP)


  • The central bank of the Philippines
  • Established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993
• BSP Objectives and Responsibilities


  • Primary objective is to maintain price stability conducive to a balanced and sustainable economic growth
  • Aims to promote and preserve monetary stability and the convertibility of the national currency
  • Provides policy directions in the areas of money, banking and credit
  • Supervises operations of banks and exercises regulatory powers over non-bank financial institutions with quasi-banking functions
• Department of Finance (DOF)


  • The government's steward of sound fiscal policy
  • Formulates revenue policies that will ensure funding of critical government programs that promote welfare among our people and accelerate economic growth and stability
• DOF Powers and Functions


  • Formulate goals, action plans and strategies for the Government's resource mobilization effort
  • Formulate, institutionalize and administer fiscal and tax policies
  • Supervise, direct and control the collection of government revenues
  • Coordinate with other government agencies on matters concerning fiscal, monetary, trade and other economic policies
• Powers of the Secretary of Finance under CMTA


  • Designate the Deputy Commissioner to act as Commissioner of Customs
  • Approve the changes made by the Commissioner on the limits of collection districts
  • Approve the assignment of employees by the Commissioner of Customs
  • Recommend to the President the opening or closing of ports
  • Designate airports of entry
  • Define the scope, areas covered, procedures and conditions governing the exercise of the police power to effect searches, seizures and arrests
  • Review decisions or ruling of the Commissioner of Customs on seizure and forfeiture cases
  • Increase or decrease port fees or charges