Professional Practice Architecture Practice Test

Which organization is responsible for macroeconomic planning and forecasting in the Philippines?

1. National Housing Authority

2. Department of Budget and Management

3. National Economic and Development Authority

4. Housing and Land Use Regulatory Board

The correct answer is: National Economic and Development Authority

The organization responsible for macroeconomic planning and forecasting in the Philippines is the National Economic and Development Authority (NEDA). NEDA plays a crucial role in formulating and implementing the country's economic development plans and policies. It is tasked with preparing the overall framework for economic growth and development, which encompasses various aspects, including social, economic, and environmental factors. Through rigorous research, analysis, and collaboration with other government entities, NEDA assesses economic variables and trends, providing the government with data-driven insights necessary for informed decision-making and strategic policy formulation. This ensures that the Philippines can navigate its economic environment effectively and align its development goals with broader macroeconomic indicators. In contrast, while the other organizations listed have important functions, they do not focus specifically on macroeconomic planning. The National Housing Authority primarily concentrates on housing programs and policies, the Department of Budget and Management oversees the preparation of the national budget, and the Housing and Land Use Regulatory Board is concerned with housing and land use regulations rather than the broader economic landscape.