Economic and Financial Literacy Week
Today (November 5) is the kick-off of the celebrations of the Economic and Financial Literacy Week. The National Economic and Development Authority is mandated by the Republic Act No. 10922, or “An Act Declaring the Second Week of November Every Year as Economic and Financial Literacy Week” to take the lead in the nationwide observance of the Economic and Financial Literacy Week or EFLW. In this undertaking, we are joined by agencies in the government’s economic cluster like the Bangko Sentral ng Pilipinas, Department of Finance and Department of Budget and Management.
But more than just a requirement by law, this full week is special to us as economic and financial literacy is right at the heart of our long-term development goals. You always hear us say “Sentro ang Tao sa ating mga Plano.” Economic and financial literacy advances our pursuit of people-centered development as we place value on an empowered citizenry. Making sound and well-informed economic and financial decisions can better our lives. In fact, taking our economic and financial literacy advocacies further, NEDA has been running a weekly radio show since July this year, Tunog ng Progreso, to help educate the Filipino people on basic economic concepts.
If you would look at the survey results which NEDA commissioned in 2015 for AmBisyon Natin 2040, it is notable that only about 20 percent want to be rich and affluent while a majority or nearly 80 percent want a simple and comfortable life.
While it speaks about Filipinos’ simplicity and modesty, one wonders how our dreams and aspirations would change along with increased economic and financial literacy.
We have to admit that we still have more work to do in improving the economic and financial literacy in the country. This is EFLW’s third year and we hope to reach more people. This year’s celebration zeroes in on the Philippine Identification System (or PhilSys). With the theme “National Identification for Greater Economic and Financial Inclusion: Sa Pag-angat ng Ekonomiya at Pinansya: Lahat Makakasali, Kapag May Pambansang ID,” the weeklong celebration highlights the importance of PhilSys in ensuring that all Filipinos, especially the poor, can have access to public services and development opportunities.
With the national ID in place, our push for increasing economic and financial inclusion in the country will be near at hand. Our next steps should be to ensure that all Filipinos know its benefits and advantages which will be part of this year’s campaign.
In closing, let me reiterate that economic and financial literacy is an important investment in the nation’s human capital. With that, we encourage everyone to participate in the celebration and help the government to cascade the information, most especially our friends in the media, by joining the online campaign with the hashtags “PhilSysEFLW2018” and “AmBisyonNatin2040”.
Socioeconomic Planning Secretary Ernesto M. Pernia’s opening remarks at the 8th #ASKNEDA Media Briefing