The Financial and Fiscal Policy Committee (FFPC) created under Executive Order No. 223 dated March 21, 1970, as amended by Executive Order No. 225 dated April 21, 1970, in addition to its functions mentioned in the afore-mentioned orders, is empowered to make an over-all review of allocation, expenditure, investment and/or lending of resources of government and the economy as a whole. For the purpose, the FFPC is authorized to create executive and such other subcommittees as may be necessary to effectively carry out national objectives of achieving balanced and integrated fiscal, monetary and economic policy, and of coordinating and synchronizing the borrowing and lending activities of government financial institutions.

Done in the City of Manila, this 28th day of December, in the year of Our Lord, nineteen hundred and seventy-one.

By the President:

(SGD.) ALEJANDRO MELCHOR
Executive Secretary