Question & AnswerQ&A (Republic Act No. 10922)
The title of Republic Act No. 10922 is the "Economic and Financial Literacy Act."
Republic Act No. 10922 declares the second week of November of every year as "Economic and Financial Literacy Week."
The policy of the State is to develop national consciousness on economic and financial literacy recognizing the growth potential of the country through a 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) is mandated to lead the participation of government agencies and instrumentalities during the Economic and Financial Literacy Week.
NEDA convenes with 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 literature corners, trainings, and basic economic and financial management classes.
DepED is encouraged to assess and revise the high school economics curriculum to make it more age-appropriate and to ensure that economic and financial education becomes an integral part of formal learning.
PIA and PCDSPO are mandated to 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 other academic and professional institutions, shall lead and encourage private sector and civil society participation. PES plans and encourages knowledge-expanding activities on economic and financial literacy to be adopted by the private sector and civil society.
The separability clause of the law states that if any provision or part 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.