NEDA stresses need for more financially literate Filipinos

This year's Economic and Financial Literacy Week is underway, with the National Economic and Development Authority (NEDA) spearheading the series of activities aimed at developing a national consciousness on economic and financial literacy.

"We need more financially literate Filipinos who can make sound and well-informed decisions,” Socioeconomic Planning Secretary Ernesto Pernia said in a statement on Tuesday.

NEDA has lined up information campaigns and other activities tackling basic and key economic and financial concepts like supply and demand, gross domestic product, inflation, interest rate, and return on investment.

The Philippine Economic Society (PES) 55th Annual Meeting and Conference will be held on November 8.

NEDA's regional offices are also set to hold symposiums on basic economic and financial concepts in 15 selected state universities and colleges.

"The government's socioeconomic planning agency aims for the participation of the youth and workers in the informal sector in these regional fora," the statement said.

NEDA is mandated under Republic Act No. 10922 to lead the nationwide observance of the EFWL, which is held every second week of November.

In line with this year's celebration themed “O Kita Mo Na: ‘Pag May Alam sa Ekonomiya at Pinansya, Malaki ang Ganansya,” the Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Department of Education (DepEd), Commission on Higher Education (CHED), National Youth Commission (NYC), Philippine Information Agency (PIA), Presidential Communication Development and Strategic Planning Office (PCDSPO), Philippine Economic Society (PES) and the Department of Interior and Local Government (DILG) are also directed to conduct activities. — Margaret Claire Layug/BM, GMA News