Albay 2nd district Rep. Joey Salceda (Facebook)

The impending institutionalization of the Department of Economic Planning and Development (DEPDev) fulfills a key mandate of the Constitution after nearly four decades.

Thus, said Albay 2nd district Rep. Joey Salceda, a congressman who has sought legislation on the creation of the department since the 17th Congress, or nearly 10 years ago.

"Finally, after almost 40 years, Congress has completed the Constitution’s mandate of creating and independent economic planning agency with the stature of a full Cabinet department," Salceda, chairman of the House Ways and Means committee, said in a statement.

This was after the measure creating the DEPDev hurdled the Bicameral Conference Committee.  

"Article XII, Section 9 of the Constitution specifically entrusted Congress with this responsibility. Indeed, the 1987 Constitution is the only constitution in the world which gave the national legislature this specific task," he said. 

"The Constitution is very clear that NEDA (National Economic and Development Authority) filling this role is only temporary," noted the economist-solon.

Salceda reckoned that the need for independent economic analysis has deep roots in Filipinos' modern history. 

"Independence, however, has not been defined in our laws. With the imminent enactment of the DEPDev bill, we now have a standing definition for the department’s independence," he said.

"It is independent to provide 'impartial, objective, and evidence-based analyses and recommendations for the socio-economic betterment of the nation'. Operationally, that means it shall always be allowed to have its say in the governance of our economy," Salceda said. 

"As former chair of the Regional Development Council (RDC) of Bicol for nine years, and as Chair of the Luzon Area Development Coordinating Council, I also sought to institutionalize the RDCs as an instrument of national development. We also clarified the manner of electing RDC chairs, which, at this point, has only been established under Executive Order (EO) No. 325," the bill's author explained. 

Salceda said the committees under NEDA are now also institutionalized. The sub-committee on inflation monitoring has also been institutionalized to ensure that the government has a handle on prices.

"I also insisted on devoting resources for futures thinking–or coming up with scenarios for the country’s future and crafting strategies to navigate these scenarios. The best among our neighbors have invested heavily in imagining what the future holds, and how they can be ready," he said.

"An independent economic planning department means while we may differ politically, our decisions will be based on facts, evidence, and a long-term view of the country’s prospects," Salceda concluded.