The National Economic and Development Authority (NEDA) Region IV-A in partnership with the University of the Philippines Los Baños College of Economics and Management (UPLB-CEM) spearheaded the conduct of the Regional Forum on Economic and Financial Literacy (EFL) on 7 November (Tuesday) at the REDREC Auditorium, UPLB-CEM. The theme “O, Kita Mo Na! ‘Pag May Alam sa Ekonomiya at Pinansya, May Ganansya!” highlights the importance of developing economic and financial literacy among the public to help them make well informed decisions that can improve their finances.
Dr. Isabelita M. Pabuayon, Dean of the UPLB-CEM, welcomed the participants to the forum and expressed CEM’s support to EFL activities. The topics presented in the forum are on basic economic concepts, national economy and financial literacy awareness.
Dr. Zenaida M. Sumalde, UPLB-CEM professor, discussed basic economic concepts such as demand and supply, inflation, interest rate, return on investment and how it relates to daily life. The lecture answered the questions such as how prices are set and the effect of inflation rate and interest rate to savings, investments or loans.
Assistant Regional Director Gina T. Gacusan of NEDA Region IV-A discussed the Gross Domestic Product (GDP), its components and what makes nations of today rich. She highlighted the significant role that people play in improving the economy.
“Financial management is a personal commitment,” Ms. Melanie N. Condes of Bangko Sentral said during her talk on Financial Literacy for Better Personal Financial Management. She emphasized the need for Filipinos to develop good attitude, behavior, skills and knowledge on managing finances for them to make sound financial decisions.
The conduct of the forum is pursuant to Republic Act No. 10922 which mandates NEDA to lead the annual observance of the EFL in the country every second week of November. A total of 80 representatives from state universities and colleges (SUCs), higher education institutions (HEIs), informal sector groups in Calabarzon and NEDA Region IV-A participated in the forum.
Jamie Angeli A. Gutierrez | November 13, 2017