Palo, Leyte – Pursuant to Republic Act (RA) No. 10922, also known as the Economic and Financial Literacy Act, the National Economic and Development Authority (NEDA) Regional Office VIII conducted a Regional Forum on Economic and Financial Literacy on 6 November 2018 at the Felipina Hall, NEDA VIII, Palo, Leyte. RA 10922 declared the second week of November of every year as Economic and Financial Literacy Week (EFWL).

The event was attended by 100 students and faculty members from the Eastern Visayas State University (EVSU), Leyte Normal University (LNU), University of the Philippines Visayas Tacloban College (UPTVC) and Saint Paul’s School of Professional Studies (SPSPS). Government employees from selected regional line agencies were also present.

This year’s theme, “National Identification for Greater Economic and Financial Inclusion: Sa Pag-angat ng Ekonomiya at Pinansya: Lahat Makakasali, Kapag may Pambansang ID”, underscores the need to ensure that every Filipino and resident foreigners, can have access to public services and development opportunities.

Senior Research Specialist Erma L. Lagarto of the Bangko Sentral ng Pilipinas (BSP) VIII talked about financial empowerment and gave some tips on saving and budgeting. She also tackled the New Generation Currency Coin (NGC) Series. Mr. Al Rae Zabala of NEDA VIII discussed the basic concepts of inflation,as well as its latest trends and some of the government’s anti-inflationary measures.

In line with the annual theme, Registration Officer IV Jimmy Dagupan of the Philippine Statistics Authority (PSA) VIII presented the salient features of the RA 11055 or the Philippine Identification System (PhilSys) Act. The PhilSys Act will create a central identification platform for all citizens and resident foreigners in the Philippines.

The observance of the EFLW stresses the significance of economically and financially literate Filipinos who can make sound and well-informed decisions crucial to the attainment of the country’s long-term vision of Matatag, Maginhawa, at Panatag na Buhay Para sa Lahat or Ambisyon Natin 2040.

Article by Alma M. Moreno, PFPD, NEDA VIII