Creating The National Economic And Development Authority

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 107 January 24, 1973

CREATING THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY

WHEREAS, the new Constitution of the Republic of the Philippines provides for the establishment of a National Economic and Development Authority, which shall recommend to the National Assembly, after consultation with the private sector, local government units and other appropriate public agencies, continuing, coordinated and fully integrated social and economic plans and programs;

WHEREAS, the interim National Assembly, which under the new Constitution, has the same powers as the regular National Assembly, is, in obedience to popular mandate as expressed in the recent national referendum on the new Constitution, not being convened as announced in Proclamation No. 1103 dated January 17, 1973;

WHEREAS, the country being under martial law rule, the continuance of which was declared in Proclamation No. 1104 dated January 17, 1973, in accordance with the needs of the time and the desire of the people, the President exercises legislative powers.

WHEREAS, in pursuance of the goals of...

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Summary of Presidential Decree No. 107

Creation of the National Economic and Development Authority
- Section 1: Establishes the National Economic and Development Authority (NEDA) composed of the President as Chairman, various Cabinet Secretaries, the Governor of the Central Bank, the Commissioner of the Budget, and the Chairman of the Board of Investments as members.
- The Authority can consult with private individuals or representatives for advice.

Functions of the Authority
- Section 2: The Authority shall, after consulting with the private sector, local government units, and other public agencies, submit continuing, coordinated, and fully integrated social and economic plans and programs.
- Section 3: The Authority is vested with the same powers and functions as the National Economic Development Authority under the Integrated Reorganization Plan, and other functions provided in presidential decrees or orders, as long as they are not incompatible with the constitutional mandate.

Transition Provisions
- Section 4: The existing National Economic Development Authority shall serve as the nucleus of and be absorbed by the newly created NEDA.
- Section 5: The Authority shall submit the required coordinated and integrated plans to the President within six (6) months from the issuance of this Decree.

Effectivity
- This Decree is made part of the law of the land and shall take effect immediately.