The National Economic and Development Authority Region VI conducted the 2017 Economic and Financial Literacy Forum on November 17, 2017 at the RDC Conference Hall of the NEDA-VI Building in Iloilo City.

A total of 140 Secondary School Teachers attended the forum composed of junior and senior high school teachers from 18 Schools Divisions in Region VI. The participation of teachers was supported by the Department of Education Region VI through the issuance of DepEd Regional Advisory No. 280 series of 2017.

Aiming to orient the public and private high school teachers on the basic principles of economics and financial management which they can impart to their students, co-educators and their own households, the forum presented the topics Basic Socioeconomics 1 by Engr. Gilberto A. Altura, NEDA-VI OIC-Assistant Regional Director; 2016 Socio-economic Situationer of Western Visayas Region by        Ms. Ma. Teresa G. Guadalupe, NEDA-VI Chief of the Development Research Division; and Financial Literacy (FinLit) by Deputy-Director Joanne Marie G. Castelo of the Bangko Sentral ng Pilipinas-Iloilo.

OIC-ARD Altura, in his presentation of Basic Socioeconomics 1, focused on the Philippine Economic System, Prices and Inflation and the Economic Multiplier Effect of fiscal policies. He also provided practical insights on basic macroeconomics to trigger the desire for learning economics and economic analysis.

On the other hand, Ms. Guadalupe discussed basic microeconomics by presenting the 2016 Socio-ecomic Situationer of the Western Visayas Region. She also cited practical situations on when and where the micro-economic indicators affect the day-to-day lives of people.

In order to enhance the know-how of teachers in making sound decisions in income generation, savings, and expenditures, Deputy-Director Castelo presented the principles and steps on financial management.  She emphasized to the participants to really prioritize savings in order to achieve life goals, thus the principle of Income less Savings = Expenditure.

During the Q and A portion of the program, the following queries/points were raised: tips on presenting economic lectures for secondary level students, alternative references for the economic education modules, availability of data and economic-related researches, issues and concerns on indebtedness of teachers to loan sharks, and availability of various government mechanisms, programs and projects that can aid teachers in alleviating themselves from financial problems. The panel for the open forum was joined by Bank Officer II Dori Mae V. Cañeso of BSP Bacolod City and Senior Research Specialist Ms. Ma. Karenz M. Odchigue of BSP Roxas City to respond to concerns raised by the participants.

As a result of the forum, the teachers expressed their willingness to participate in a similar training or any NEDA capability-building activity related to Economics and Financial Literacy. The forum was conducted in collaboration with the Bangko Sentral ng Pilipinas (Iloilo, Bacolod and Roxas City Branches) and the Department of Education Region VI. (DRD, NRO6)