WHEREAS, Executive Order (EO) No. 43 (s. 2011) organized the Cabinet Cluster System as a mechanism for coordination, complementation, and synergy among departments and other government instrumentalities with the main purpose of attaining national development goals and objectives;

WHEREAS, among the clusters under the Cabinet Cluster System is the Economic Development Cluster (EDC), which is tasked to promote rapid, inclusive, and sustained economic growth by fostering an environment that is conducive to growth and competitiveness of private enterprises, and ensuring deep and wide distribution of economic opportunities and benefits to the Filipino people, among others;

WHEREAS, EO No. 24 (s. 2017) reorganized the Cabinet Cluster System to improve existing procedures, and expanded the membership of the EDC;

WHEREAS, EO No. 1 (s. 2022) abolished the Office of the Cabinet Secretariat and transferred the functions to the Presidential Management Staff;

WHEREAS, under EO No. 11 (s. 2022), the Cabinet Cluster System shall be under the PMS, which shall be under the control and supervision of the Office of the Executive Secretary;

WHEREAS, there is a need to reorganized the EDC to ensure that the integration of programs, activities, and priorities toward sustained economic growth remains efficient and effective;

WHEREAS, in view of the increasing prices of key commodities, particularly food and energy resources, the creation of an advisory body to the EDC, tasked to directly address inflation, will strengthen the EDC, and reinforce existing government initiatives aimed to improve the economy and the quality of life of the Filipino people;

WHEREAS, Section 31, Chapter 10, Title III of EO No. 292 or the "Administrative Code of 1987" provides that the President, in order to achieve simplicity, economy and efficiency, shall have the continuing authority to reorganize the administrative structure of the Office of the President; and

WHEREAS, Section 17, Article VII of the Constitution vests in the President the power of control over all Executive departments, bureaus, and offices;

NOW, THEREFORE, I, FERDINAND R. MARCOS, JR., President of the Philippines, by virtue of the powers vested in me by the Constitution and existing laws, do hereby order:

Section 1. Economic Development Group. The EDC is hereby renamed as the Economic Development Group (EDG), The EDG shall be composed of the following:
 

Chair	:	Secretary, Department of Finance (DOF)
Co-Chair	:	Secretary, National Economic and Development Authority (NEDA)
Members	:	Head, Presidential Management Staff
		Secretary, Department of Agriculture (DA)
		Secretary, Department of Budget and Management (DBM)
		Secretary, Department of Energy (DOE)
		Secretary, Department of Information and Communications Technology
		Secretary, Department of the Interior and Local Government (DILG)
		Secretary, Department of Labor and Employment
		Secretary, Department of Public Works and Highways
		Secretary, Department of Science and technology (DOST)
		Secretary, Department of Trade and Industry (DTI)
		Secretary, Department of Transportation
		Secretary, Department of Tourism

The NEDA shall serve as the Secretariat of the EDG, and shall provide administrative support to the member-agencies thereof.

Section 2. Functions. The EDG shall be responsible for harmonizing, coordinating, complementing, and synergizing efforts to ensure the country's rapid, inclusive and sustained growth, For this purpose, the EDG shall perform the following functions

a. Promote an environment conducive to the growth and competitiveness of private enterprises and the creation of jobs that will empower people and provide them with opportunities to rise above poverty;

b. Improve farms and rural enterprises, as well as trade policies vital to achieving food security and more equitable economic growth;

c. Mitigate inflation and ensure food and energy security, while balancing the interests of producers, consumers, and the economy;

d. Undertake research and development that are relevant to and supportive of the requirements of micro, small and medium scale enterprises and for national industries;

e. Improve national productivity and competitiveness of domestic products and services; and

f. Ensure deep and wide distribution of economic opportunities and benefits to the Filipino people.

As may be necessary, the EDG may call upon any government department, agency, bureaus, office, or instrumentality, including government-owned or -controlled corporations (GOCCs) and government financial institutions (GFIs), and invite local government units LGUs) and representatives from the private sector, to provide assistance in attaining its objectives.

To avoid duplication of efforts and forum shopping, the EDG shall defer to the NEDA Board on matters within the primary purpose of the latter and its inter-agency committees, pursuant to EO No. 230 (s. 1987).

Section 3.Inter-Agency Committee on Inflation and Marker Outlook. There is hereby created an Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO), which shall be composed of the following:

Chair	:	Secretary, NEDA
Co-Chair	:	Secretary, DOF
Members	:	Secretary, DBM
		Secretary, DA
		Secretary, DOE
		Secretary, DOST
		Secretary, DTI
		Secretary, DILG

The DOF shall serve as the Secretariat of the IAC-IMO, and shall provide administrative support to the member-agencies thereof.

The IAC-IMO shall serve as an advisory body to the EDG on measures that would keep inflation, particularly of food and energy, within the government's inflation targets. For this purposes, the IAC-IMO shall perform the following functions:

a. Closely monitor the main drivers of inflation, particularly food and energy, and their proximate sources and causes;

b. Assess the supply-demand situation for essential food commodities during the cropping period, allowing periodic updating as new information becomes available;

c. Assess the possible impact of natural and man-made shocks (e.g., typhoons, disease outbreaks, and armed conflict0 on the supply of key food commodities;

d. Regularly monitor data necessary to assess food prices and the supply and demand situation, such as (i) farm gate, wholesale, and retail prices, (ii) volume of local production and area harvested/planted, (iii) stocks inventory, (iv) sanitary and phytosanitary import clearance issuances and actual import arrivals, (v) geospatial, climate, and satellite data, (vi) damage and losses due to calamities and disasters;

e. Facilitate regular and efficient data sharing among concerned agencies to effect timely support and demand situation analysis;

f. Monitor global, regional, and domestic developments and issues that may affect prices; and

g. Provide timely recommendations to the EDG and relevant agencies on measures to curb price spikes and promote food security based on ex-ante supply and demand analysis (e.g., timely importation).

As may be necessary, the IAC-IMO may call upon any government department, agency, bureau, office, or instrumentality, including GOCCs and GFIs, and invite LGUs and representatives from the private sector, to provide assistance in attaining its objectives.

Section 4. Inflation and Market Outlook Report. The IAC-IMO shall submit a report to the EDG on the country's food and energy supply and demand situation and outlook every quarter, or as the circumstance may require. The report shall include recommendations on short, medium, and long-term measures to manage inflation. The IAC-IMO shall formulate and maintain a dashboard containing relevant information on prices, as well as the supply and demand for food and energy commodities.

Section 5. Separability. If any provision of this order is declared invalid or unconstitutional, other parts not affected thereby shall continue to be in full force and effect.

Section 6. Repeal. All orders, rules and regulations, and other issuances or parts thereof which are inconsistent with this Order are hereby revoked, amended, or modified accordingly.

Section 7. Effectivity. This Order shall take effect immediately upon its publication in the Official gazette or in a newspaper of general circulation.

DONE, in the City of Manila, this 26^th day of May, in the year of Our Lord, Two Thousand and Twenty Three.