QuestionsQuestions (Republic Act No. 10922)
RA 10922 declares the second week of November of every year as the “Economic and Financial Literacy Week” and sets the policy and mechanisms for its observance in the Philippines.
It is observed during the second week of November every year.
The State aims to develop national consciousness on economic and financial literacy, recognizing that a financially literate populace can make sound financial decisions, mobilize savings, and contribute to improving economic and financial policies and programs.
The National Economic and Development Authority (NEDA).
NEDA shall plan, initiate, execute, and encourage knowledge-expanding activities on economic and financial literacy, and it shall convene relevant agencies to coordinate participation.
The law specifically includes the Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Department of Education (DepED), Commission on Higher Education (CHED), National Youth Commission (NYC), and the Department of the Interior and Local Government (DILG).
All heads of government agencies and instrumentalities, including LGUs, GOCCs, and those identified by NEDA as relevant agencies.
It mandates consciousness-raising and knowledge-expanding activities, including literature corners, organizing trainings, and conducting basic economic and financial management classes, for public and private elementary and secondary schools, state and private colleges/universities, TESDA, and the NYC in coordination with NEDA.
Under the law: public and private elementary and secondary schools (DepED), state and private colleges and universities (CHED), TESDA, and the NYC—coordinated with NEDA.
The DepED is encouraged to assess and revise the high school economics curriculum to be more age-appropriate and ensure that economic and financial education becomes integral to formal learning.
The Philippine Information Agency (PIA) and the Presidential Communications Development and Strategic Planning Office (PCDSPO).
They must allot airtime for programs and produce and disseminate printed and online materials for economic and financial literacy awareness and enhancement.
NEDA, in coordination with the Philippine Economic Society (PES) and in partnership with other academic/professional institutions, leads and encourages private sector and civil society participation. The PES plans and encourages knowledge-expanding activities that may be adopted by private sector and civil society in their offices.
If any provision is held invalid or unconstitutional, the remainder of the law remains valid and subsisting.
All laws, decrees, orders, rules and regulations or parts thereof inconsistent with the Act are repealed or modified accordingly.
Fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.
The text states it “lapsed into law or without the signature of the President” in accordance with Article VI, Section 27(1) of the Constitution—meaning it became law due to failure to veto/sign within the constitutional period.