The Economy

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NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY
The National Economic and Development Authority (Filipino: Pambansang Pangasiwaan sa Kabuhayan at Pagpapaunlad), abbreviated asNEDA, is an independent cabinet-level agency of the Philippine government responsible for economic development and planning. It is headed by the President of the Philippines as chairman of the NEDA board, with the Secretary of Socio-Economic Planning, concurrently NEDA Director-General, as vice-chairman. 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, and the National President of the Union of Local Authorities of the Philippines are members of the NEDA Board. The present Director-General is Dr. Arsenio Balisacan of the University of the Philippines School of Economics.

History
The NEDA was established in 1973 with Dr. Gerardo Sicat as its first director general. With the exception of Sicat, the Prime Minister of the Philippines was usually the head of the agency before the First People Power Revolution. President Corazon C. Aquino re-organized the NEDA into its present form (see below) and appointed Winnie Monsod as its first director-general after EDSA I

List of NEDA Director-Generals

Name| Term Began| Term Ended| President|
Third Republic of the Philippines|
Sixto K. Roxas III| 1963 (NEC)| 1964 (NEC)| Diosdado Macapagal| Hilarion M. Hinares| 1965 (NEC)| | Ferdinand Marcos|
Fourth Republic of the Philippines|
Gerardo Sicat| 1970-1973 (NEC), 1973 (NEDA)| 1981 (NEDA)| Ferdinand Marcos| Placido Mapa, Jr.| 1970 (NEC), 1981 (NEDA)| 1983 (NEDA)| Ferdinand Marcos| Cesar Virata[2]| 1983| | Ferdinand Marcos|

Vicente Valdepeñas, Jr.| 1983| 1986| Ferdinand Marcos| Fifth Republic of the Philippines|
Winnie Monsod| July 22, 1987| 1989| Corazon Aquino|
Jesus Estanislao| 1989| 1990| Corazon Aquino|
Cayetano Paderanga, Jr.| 1990| June 30, 1992| Corazon Aquino| Cielito Habito| June 30, 1992| June 30, 1998| Fidel Ramos| Felipe Medalla| June 30, 1998| January 20, 2001| Joseph Estrada| Dante Canlas| January 20, 2001| 2002| Gloria Macapagal-Arroyo| Romulo Neri| 2002| 2005| Gloria Macapagal-Arroyo|

Augusto Santos| 2005| 2006| Gloria Macapagal-Arroyo|
Romulo Neri| 2006| 2007| Gloria Macapagal-Arroyo|
Augusto Santos| 2007| July 23, 2008| Gloria Macapagal-Arroyo| Ralph Recto| July 23, 2008| August 16, 2009| Gloria Macapagal-Arroyo| Augusto Santos| August 16, 2009| June 30, 2010| Gloria Macapagal-Arroyo| Cayetano Paderanga, Jr.| June 30, 2010| May 10, 2012| Benigno Aquino III| Arsenio Balisacan| May 10, 2012| Present| Benigno Aquino III|

NEDA Board
The powers and functions of the NEDA reside in the NEDA Board. It is the Philippines' premier social and economic development planning and policy coordinating body. The Board is composed of the President as chairman, the Secretary of Socio-Economic Planning and NEDA Director-General as vice-chairman, and the following as members: the Executive Secretary and the Secretaries of Finance, Trade and Industry, Agriculture, Environment and Natural Resources, Public Works and Highways, Budget and Management, Labor and Employment, and Interior and Local Government. The following have since been added as members to the Board: the Secretaries of Health, Foreign Affairs, and Agrarian Reform (per Memorandum Order No. 164, dated 21 March 1988); the Secretary of Science and Technology (per Memorandum Order No. 235, dated 19 May 1989); and the Secretary of Transportation and Communications (per Memorandum Order No. 321, dated 26 September 1990). In addition, the Secretary of Energy (per Republic Act No. 7638, approved December 9, 1992) and the...
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