Question & AnswerQ&A (Republic Act No. 10922)
The short title of the law is the "Economic and Financial Literacy Act".
The State declares a policy to develop national consciousness on economic and financial literacy by declaring the second week of November of every year as "Economic and Financial Literacy Week".
The National Economic and Development Authority (NEDA) leads the participation of government agencies and instrumentalities during the Economic and Financial Literacy Week.
NEDA must coordinate with the Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Department of Education (DepED), Commission on Higher Education (CHED), National Youth Commission (NYC), and Department of the Interior and Local Government (DILG).
All public and private elementary and secondary schools under DepED, state and private colleges and universities under CHED, TESDA, and NYC in coordination with NEDA are mandated to conduct consciousness-raising and knowledge-expanding activities on economic and financial literacy, including trainings and classes. DepED is encouraged to assess and revise the high school economics curriculum to make it more age-appropriate.
They are mandated to allot airtime for programs and produce and disseminate printed and online materials to promote economic and financial literacy awareness and enhancement.
NEDA, in coordination with the Philippine Economic Society (PES) and other academic and professional institutions, encourages private sector and civil society participation by planning and initiating literacy activities that may be adopted in respective offices.
The second week of November of every year is declared as "Economic and Financial Literacy Week" to develop national consciousness on economic and financial literacy.
The purpose is to make the curriculum more age-appropriate and to ensure that economic and financial education becomes an integral part of formal learning.
If any provision is held invalid or unconstitutional, the remainder of the law or the unaffected provisions shall remain valid and subsisting.
The Act took effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.
All heads of government agencies and instrumentalities, including local government units (LGUs), government-owned and controlled corporations (GOCCs), and other relevant agencies identified by NEDA are directed to collaborate and cooperate.
Yes, all laws, decrees, orders, rules and regulations or parts thereof inconsistent with this Act are repealed or modified accordingly.