Pursuant to the principle of holiday economics, Malacañang has declared Feb. 24, 2023, a special nonworking holiday in celebration of the EDSA People Power Revolution anniversary, which falls on a Saturday this year.
The Palace released Proclamation No. 167 on Thursday evening, a day before the new holiday date.
The Proclamation was signed by Executive Secretary Lucas Bersamin and confirmed by Communications Secretary Cheloy Garafil in a text message.
Based on Proclamation No. 167, Malacañang moved the celebration of the EDSA holiday to “enable our countrymen to avail of the benefits of a longer weekend pursuant to the principle of holiday economics.”
However, the Palace said that the historical significance of the People Power Revolution should be maintained.
“The celebration of EDSA People Power Revolution Anniversary may be moved from 25 February 2023 (Saturday) to 24 February 2023 (Friday), provided that the historical significance of EDSA People Power Revolution Anniversary is maintained,” it read.
The country will mark the 37th anniversary of the EDSA People Power Revolution on Feb. 25. The occasion commemorates the toppling of the first Marcos administration.
In November last year, President Ferdinand “Bongbong” Marcos Jr., through Proclamation No. 90, said there was a need to follow the principle of holiday economics.
“There is a need to adjust these holidays pursuant to the principle of holiday economics wherein a longer weekend will help encourage domestic travel and increase tourism expenditures in the country,” the Proclamation read.
“Holiday economics” became a buzzword during the administration of former President Gloria Macapagal Arroyo. Under the principle, holidays falling on weekends may be moved to the nearest Monday or Friday. Even holidays falling in the middle of the week may be moved.