About the Economic and Financial Literacy (EFL) Week 2024

Pursuant to Republic Act No. 10922 or the EFL Act, the observance of the EFL Week every second week of November of every year aims to develop national consciousness on economic and financial literacy. This is primarily in recognition of the growth potential of the country through financially literate people who make sound financial decisions, mobilize savings, and contribute ideas on improving economic and financial policies and programs.

The National Economic and Development Authority (NEDA) leads the celebration of the EFL Week. Specifically, the law mandates NEDA to lead the participation of government agencies, instrumentalities, and the private sector by planning, initiating, executing, and encouraging knowledge-expanding activities on economic and financial literacy. 

The overarching theme for this year’s celebration is “Empowering Filipinos Towards Realizing a Prosperous Middle-Class Society through Economic and Financial Literacy”. This theme reflects the nation’s long-term vision of fostering a thriving and equitable society, as outlined in AmBisyon Natin 2040, the country’s blueprint for a future in which all Filipinos enjoy a matatag (strongly-rooted), maginhawa (comfortable), and panatag na buhay (secure life). 

About the Inter-Agency Committee on Economic and Financial Literacy (IAC-EFL) and Activities

In June 2023, the NEDA convened the Inter-Agency Committee on Economic and Financial Literacy (IAC-EFL) to facilitate the preparation of activities for the celebration of EFL Week 2023 and the succeeding years. This ensures that the government’s efforts are coordinated and consolidated in advocating and mainstreaming economic and financial literacy in the country.

At present, the following agencies are members of the IAC-EFL:

• National Economic and Development Authority Chair
• Bangko Sentral ng Pilipinas Vice Chair
• Commission on Higher Education
• Department of Education
• Department of Agriculture 
• Department of Information and Communication Technology 
• Department of Finance
• Department of the Interior and Local Government
• Department of Labor and Employment
• Department of Migrant Workers
• Department of Trade and Industry 
• Department of Social Welfare and Development
• National Youth Commission
• Philippine Economic Society
• Philippine Information Agency
• Philippine Institute for Development Studies
• Philippine Statistics Authority
• Presidential Communications Office
• Technical Education and Skills Development Authority

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Source: Development Information Staff