Executive Order No. 28 (2023)

Economic Development Group

Section 1. Economic Development Group.—The EDC is hereby renamed as the Economic Development Group (EDG), The EDG shall be composed of the following:

Chair

:

Secretary, Department of Finance (DOF)

Co-Chair

:

Secretary, National Economic and Development Authority (NEDA)

Members

:

Head, Presidential Management Staff

Secretary, Department of Agriculture (DA)

Secretary, Department of Budget and Management (DBM)

Secretary, Department of Energy (DOE)

Secretary, Department of Information and Communications Technology

Secretary, Department of the Interior and Local Government (DILG)

Secretary, Department of Labor and Employment

Secretary, Department of Public Works and Highways £A⩊phi£

Secretary, Department of Science and technology (DOST)

Secretary, Department of Trade and Industry (DTI)

Secretary, Department of Transportation

Secretary, Department of Tourism

The NEDA shall serve as the Secretariat of the EDG, and shall provide administrative support to the member-agencies thereof.

Functions

Section 2. Functions.—The EDG shall be responsible for harmonizing, coordinating, complementing, and synergizing efforts to ensure the country's rapid, inclusive and sustained growth, For this purpose, the EDG shall perform the following functions

a. Promote an environment conducive to the growth and competitiveness of private enterprises and the creation of jobs that will empower people and provide them with opportunities to rise above poverty;

b. Improve farms and rural enterprises, as well as trade policies vital to achieving food security and more equitable economic growth;

c. Mitigate inflation and ensure food and energy security, while balancing the interests of producers, consumers, and the economy;

d. Undertake research and development that are relevant to and supportive of the requirements of micro, small and medium scale enterprises and for national industries;

e. Improve national productivity and competitiveness of domestic products and services; and

f. Ensure deep and wide distribution of economic opportunities and benefits to the Filipino people.

As may be necessary, the EDG may call upon any government department, agency, bureaus, office, or instrumentality, including government-owned or -controlled corporations (GOCCs) and government financial institutions (GFIs), and invite local government units LGUs) and representatives from the private sector, to provide assistance in attaining its objectives.

To avoid duplication of efforts and forum shopping, the EDG shall defer to the NEDA Board on matters within the primary purpose of the latter and its inter-agency committees, pursuant to EO No. 230 (s. 1987).

Inter-Agency Committee on Inflation and Marker Outlook

Section 3. Inter-Agency Committee on Inflation and Marker Outlook.—There is hereby created an Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO), which shall be composed of the following:

Chair

:

Secretary, NEDA

Co-Chair

:

Secretary, DOF

Members

:

Secretary, DBM

Secretary, DA

Secretary, DOE

Secretary, DOST

Secretary, DTI

Secretary, DILG

The DOF shall serve as the Secretariat of the IAC-IMO, and shall provide administrative support to the member-agencies thereof.

The IAC-IMO shall serve as an advisory body to the EDG on measures that would keep inflation, particularly of food and energy, within the government's inflation targets. For this purposes, the IAC-IMO shall perform the following functions:

a. Closely monitor the main drivers of inflation, particularly food and energy, and their proximate sources and causes;

b. Assess the supply-demand situation for essential food commodities during the cropping period, allowing periodic updating as new information becomes available;

c. Assess the possible impact of natural and man-made shocks (e.g., typhoons, disease outbreaks, and armed conflict0 on the supply of key food commodities;

d. Regularly monitor data necessary to assess food prices and the supply and demand situation, such as (i) farm gate, wholesale, and retail prices, (ii) volume of local production and area harvested/planted, (iii) stocks inventory, (iv) sanitary and phytosanitary import clearance issuances and actual import arrivals, (v) geospatial, climate, and satellite data, (vi) damage and losses due to calamities and disasters;

e. Facilitate regular and efficient data sharing among concerned agencies to effect timely support and demand situation analysis;

f. Monitor global, regional, and domestic developments and issues that may affect prices; and

g. Provide timely recommendations to the EDG and relevant agencies on measures to curb price spikes and promote food security based on ex-ante supply and demand analysis (e.g., timely importation).

As may be necessary, the IAC-IMO may call upon any government department, agency, bureau, office, or instrumentality, including GOCCs and GFIs, and invite LGUs and representatives from the private sector, to provide assistance in attaining its objectives.

Inflation and Market Outlook Report

Section 4.

Inflation and Market Outlook Report .—The IAC-IMO shall submit a report to the EDG on the country's food and energy supply and demand situation and outlook every quarter, or as the circumstance may require. The report shall include recommendations on short, medium, and long-term measures to manage inflation. The IAC-IMO shall formulate and maintain a dashboard containing relevant information on prices, as well as the supply and demand for food and energy commodities.

Separability

Section 5.

Separability .—If any provision of this order is declared invalid or unconstitutional, other parts not affected thereby shall continue to be in full force and effect.

Repeal

Section 6.

Repeal .—All orders, rules and regulations, and other issuances or parts thereof which are inconsistent with this Order are hereby revoked, amended, or modified accordingly.

Effectivity

Section 7.

Effectivity. —This Order shall take effect immediately upon its publication in the Official gazette or in a newspaper of general circulation.

DONE, —in the City of Manila, this 26th—day of May, in the year of Our Lord, Two Thousand and Twenty Three.—

(SGD.)— FERDINAND R. MARCOS, JR. —

By— the President:

SGD.)— LUCAS P. BERSAMIN Executive Secretary