SIXTEENTH CONGRESS OF THE PHILIPPINES 
REPUBLIC OF THE PHILIPPINES 
Second Regular Session 
SENATE 
S.B. No. 
2779 
) 
) 
) 
INTRODUCED BY SENATOR SONNY ANGARA 
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MAY 25 P 1 :3\ 
AN ACT DECLARING THE SECONDWEEK OF NOVEMBER OF EVERY 
YEAR AS ECONOMIC AND FIf'JANCIAL LITERACY WEEK 
EXPLANATORY NOTE 
Since 2010, glowing reviews and optimistic projections have been heaped 
,'on the Philippine economy, Pfl,rtic!Jlarly regarding its.financial system. 
For instance, three major credii rating agencies-Moody's, Standard & 
Poor's and· Fitch Hatings-have all deemed the country to' be investment grade, 
a veritable first in pur history. 
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By the end of 2014, the Philippine banking system was the only in arrlOng 
70 countries to bear a positive outlook, while in recent years the Philippine Stock 
Exchange has gone through an unprecedented and record-breaking bull run. 
In April 2015, the Center for Global' Development-.a US"based think 
tank-found the Philippines as having, the most resilient economy, in the 
developing world, given it has actually emerged better off after global econo,mic 
recession in 2008. 
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Opportunities abound on account of these developments, but many 
Filipinos do not even have a basic grasp of economic and financial concepts. The 
Philippines even ranked second-worst among ASEAN in the 2015 Maste~Card 
Financial Literacy Index, ahead only oflndonesia. 
Such illiteracy hides recent economic gains from the minds' of many 
people, as it hinders them from meaningfully participating in the country's notable 
financial ascent and economic growth. 
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. A concerted public-private effort must be launched to mainstre.am 
eCOnomic and financial concepts and boost such literacy among the populace at 
large,. 
Hence, the foregoing measure proposes the declaration of the second 
, week of November of every year as the Economic and Financial Literacy Week. 
Its ~wift.passage is earnestly sought. 
SENATOR SONNYANGARA 
. ) 


16th Congress of the Republic 
) 
Of the Philippines 
) 
Second Regular Session 
) 
SENATE 
Senate Bill No. 
2779 
Introduced by SENATOR SONNY ANGARA 
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"15 
MAY25 Pl :31' 
AN ACT DECLARING THE SECOND WEEK OF NOVEMBER OF EVERY YEAR AS 
ECONOMIC AND FINANCIAL LITERACY WEEK 
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled: 
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SECTION 1. Title. - This Act shall be known as the "Economic and. 
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Financial Literacy Act". 
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' SEC. 2. Declaration of Policy. - It is declared the policy of the State to 
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deve,lop national consciousness on economic .and financial literacy by declaring the" 
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second week of November of every year as "Economic and Financial Literacy Week". 
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The State recognizes the growth potential of the country through a financially literate 
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people who make sound financial decisions, mobilize savings, and contribute ideas 
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on improving economic and financial policies and programs. 
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SEC. 3.' Participating Government Agencies. - To ensure meaningful 
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observance of the Economic and Financial Literacy Week as herein declared, the 
1'3 " National Economic and Development Authority (NEDA) shall lead the participation of 
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government agencies and instrumentalities during the Economic and Financial, 
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Literacy Week. As the lead agency, the NEDA shall plan, initiate, execute, and' 
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encourage knowledge-expanding activities on economic and financial; literacy which 
, 17' may be adopted by government agencies and instrumentalities, including local' 
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government units (LGUs), government-owned and controlled corporations (GOCCs) 
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and educational institutions. 
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The NEDA shall convene for the purpose the relevant agencies, to 
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include the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), the 
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Department of Education (DepED), the Commission on Higher Education (CHED), 
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the National Youth Commission (NYC), and the Department of the Interior and Local 
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Government (DI.LG). 
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All heads of government agencies and instrumentalities, including 
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LGUs, GOCCs, and those identified by the NEDA as relevant agencies, are hereby 
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directed to collaborate and cooperate with the lead agency in advocating and 
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'implementin,g activities to celebrate the Economic and Financial Literacy. Week. 
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SEC. 4. Economic and Financial Literacy of students and the Youth. -
To ,improve the economic and financial literacy of students and the youth, all public 
and private elementary and secondary schools under'the DepED, the state and 
private colleges and universities under the CHED, the Technical Education and Skills 
Development Authority (TESDA), and the NYC, in coordination with the NEDA, are 
.hereby mandated to conduct consciousness raising and knowledge-expanding 
activities on economic and financial literacy including the setting up of literature 
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corners, . organizing for a, trainings, and conducting basic ,economic and financial 
management classes, 
The DepED is also encouraged to assess and revise the high school 
economics curriculum to make it more age-appropriate, and ensure that economic 
and financial education becomes an integral part of formal learning, 
SEC, 5, Communication Arm.- The Philippine Information agency (PIA) 
and the Presidential Communications Development and Strategic Planning Offic~ 
(PCDSPO) are hereby mandated to allot airtime for programs, and produce and" 
disseminate printed and online materials for economic and financial literacy 
awareness and enhancement 
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. SEC, 6, Private Sector Participation. - The NE;DA, in coordination with 
the, Philippine Economic Society (PES), and in partnership with other academic and 
"professional institutions, shall lead and encourage the participation of the private 
sector and civil society dLlring the Economic and Financial Literacy Week, The ~ES 
shall plan, initiate, and encourage knowledge-expanding activities on economic and 
financial literacy which may be adopted by}he private sector and civil society in their 
respective offices, 
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SEC, 7, Separability Clause., - If any p~ovision or part hereof.js held 
invalid or unconstitutional, the remainder of the law or the provision not otherwise 
affected shall remain valid and subsisting, 
SEC, 8, Repealing Clause, _. All laws, decrees, orders, rules and 
regulations or parts thereof inconsistent with this Act we are hereby repeqled or 
modified accordingly, 
SEC, 9, Effectivity. - This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation, 
Approved, 
21Pagp