WHEREAS, the 1987 Philippine Constitution mandates the independent economic and planning agency of the government to implement continuing, integrated and coordinated programs and policies for national development after consultations with the appropriate public agencies, various private sectors, and local government units;

WHEREAS, Executive Order No. 292 (s.1987) or the Administrative Code of 1987 requires the State to ensure that all socio-economic programs and activities of the government shall be programmed within the context of well-formulated and consistent long, medium, and short-term development plans and policies to promote both the growth of the econom and the equitable distribution of the benefits of such growth to the members of society;

WHEREAS, pursuant to EO No. 292, the National Economic and Development Authority (NEDA) shall serve as the independent planning agency of the government and shall primarily be responsible for formulating continuing, coordinated and fully integrated social and economic policies, plans and programs;