Section 24Sec./Art. 24

Powers and Functions of the ED Council. - The ED council shall have the following powers and functions:

(a) Direct the formulation and implementation of policies, plans, and programs that promote economic development and address development concerns of national importance;

(b) Approve policies, development plans, programs, and projects consistent with the policies set by the President of the Philippines, as may be endorsed by the Committees of the ED Council

(c) Approved proposed cost threshold and other criteria for priority programs and projects, except those provided by laws, rules, and regulations;

(d) Approve the level of annual government expenditures, as well as projections, forecast, resource requirements, and the ceiling of government spending; and

(e) Issue rules and regulations necessary for the effective discharge of its powers and functions.