The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on July 3, 1993, pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP took over from the Central Bank of Philippines, which was established on January 3, 1949, as the country’s central monetary authority. The BSP enjoys fiscal and administrative autonomy from the national government in the pursuit of its mandated responsibilities.

The Office of the Undersecretary for International Economic Relations of the Department of Foreign Affairs (DFA-OUIER) serves as the core office that oversees the formulation, management, and implementation of Philippine international economic policies and programs in the conduct of Philippine relations at the multilateral, plurilateral, regional, and bilateral levels.   

The Office supervises the Asia-Pacific Economic Cooperation (APEC) National Secretariat (ANS) and International Economic Cooperation (ANSIEC) Unit of the Department and further serves as the lead office for Philippine participation in APEC meetings. The DFA Undersecretary for International Relations is also designated as the APEC Senior Official of the Philippines.

The ANSIEC discharges the substantive and administrative functions of the ANS, which include preparations for Philippine-hosted APEC meetings and providing substantive support for meetings of the Technical Board on APEC Matters, and other APEC-related interagency groups.

DFA-OUIER also ensures that the country’s initiatives, economic priorities, and general image are well represented in international economic fora such as the World Economic Forum, Boao Forum for Asia, World Islamic Economic Forum, Asia Cooperation Dialogue, Belt and Road Forum, and in various meetings with global financial institutions like Asian Development Bank, World Bank, and the Asian Infrastructure Investment Bank.

The Department of the Interior and Local Government (DILG) assists the President in the exercise of general supervision over local governments. Its mandate is to promote peace and order, ensure public safety, and further strengthen local government capability aimed towards the effective delivery of basic services to the citizenry.

Its attached agencies are the National Police Commission, Philippine National Police, Bureau of Fire Protection, Bureau of Jail Management and Penology, Local Government Academy, and Philippine Public Safety College.

In October 2018, three agencies that were under the Office of the President were transferred to the DILG, namely, the Philippine Commission on Women, National Youth Commission, and the National Commission on Muslim Filipinos. The DILG is at the forefront of priority campaigns against illegal drugs, criminality, corruption, communist terrorism, and violent extremism as it continues to further good governance together with the civil society and other local and international stakeholders.

The National Economic and Development Authority is the country’s premier socioeconomic planning body, highly regarded as the authority in macroeconomic forecasting and policy analysis and research. It provides high-level advice to policymakers in Congress and the Executive Branch. Its key responsibilities include:

  • Coordination of activities such as the formulation of policies, plans, and programs to efficiently set the broad parameters for national and sub-national (area-wide, regional, and local) development;
  • Review, evaluation, and monitoring of infrastructure projects identified under the Comprehensive and Integrated Infrastructure Program consistent with the government’s thrust of increasing investment spending for the growing demand on quality infrastructure facilities; and
  • Undertaking of short-term policy reviews to provide critical analyses of development issues and policy alternatives to decisionmakers.

The Philippine Competition Commission is an independent quasi-judicial body created to promote and maintain market competition by regulating anti-competitive conduct. The main role of the Philippine Competition Commission is to ensure fair competition in the market for the benefit of consumers and businesses.

The Department of Trade and Industry (DTI) is responsible for realizing the country’s goal of globally competitive and innovative industry and services sector that contributes to inclusive growth and employment generation.

Pursuant to the Philippine Development Plan 2017–2022, the DTI shall endeavor to reduce inequality and poverty by expanding economic opportunities in industry and services, and by increasing the access particularly of micro, small, and medium enterprises, cooperatives, and overseas Filipinos to these opportunities.

The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.