Other Government Release

National Economic and Development Authority

NEDA Chief Cites PCED’s Role in Ph Economic Dev’t for Past 50 Years


MANILA – National Economic and Development Authority Secretary Arsenio M. Balisacan lauded the Philippine Center for Economic Development (PCED) on Friday (May 17) for its pivotal role in shaping academic and public discourse as well as its significant contributions to the country’s economic development over the past half-century.

In commemorating the Center’s 50th anniversary, Balisacan highlighted the institution’s instrumental role in nurturing generations of economists, researchers, analysts, leaders, and policymakers who have been the driving force behind the country’s developmental milestones.

Serving as the chairperson of the PCED Board of Trustees—an institution established in 1974 to provide both financial and moral support to the research, teaching, training, and other programs of the University of the Philippines School of Economics (UPSE)—Balisacan reflected on the journey of PCED and UPSE.

“At the inception of the PCED, UPSE was a young institution—only nine years old. Through PCED’s unwavering support, the School was able to fortify and strengthen the competitiveness of its academic and research programs and expand its reach through initiatives like the establishment of the Program in Development Economics (PDE),” Balisacan said.

He underscored the Center’s unwavering commitment to fostering essential policy and extension work that underpins a broad, whole-of-nation approach to inclusive growth and development.

“Indeed, PCED shall remain UPSE’s ever-present shadow and stay in sync with its priorities and objectives. It will faithfully support the School’s initiatives and projects as it carries out its mission of training the next generation of well-rounded economists who will produce excellent, diverse, ethical, and impactful research,” he added.

The NEDA chief also acknowledged PCED’s role in enhancing the School’s infrastructure, creating an environment conducive to work, training, and fostering an intellectually vibrant community.

Established by Presidential Decree No. 453 on May 13, 1974, by the late President Ferdinand E. Marcos, PCED has spearheaded numerous initiatives over the decades in support of the UPSE.

The golden anniversary celebration of PCED was graced by past and present economists and government officials. Among the distinguished guests were the founding members of PCED: former and first NEDA Director-General Gerardo Sicat, former Prime Minister Cesar Virata, and former Bangko Sentral ng Pilipinas Governor and first Budget Secretary Jaime Laya. Together with NEDA Secretary Arsenio Balisacan, current members of the PCED Board of Trustees Executive Secretary Lucas Bersamin, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr., Budget Secretary Amenah Pangandaman, UP President Angelo Jimenez, and PCED Executive Director and UPSE Dean Joy Abrenica were also in attendance.

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