MANILA - Former National Economic and Development Authority (NEDA) Director General Cayetano Paderanga Jr. has passed away.

Paderanga, who served as NEDA chief from 1990 to 1992 and 2010 to 2012, died Friday, days after undergoing open heart surgery last week.

In a statement on Saturday, Malacañang expressed its condolences to the family of Paderanga. The Palace also touted Paderanga's service to the nation.

"We mourn the passing of Cayetano Paderanga Jr., economist and public servant. During his time as NEDA Chief under President Benigno S. Aquino III, he helped reinvigorate the institution which he had also headed during the term of President Corazon C. Aquino. Under his watch the PPP (Public-Private Partnership) Center was established, which has played a significant role in the revitalization of the economy," presidential spokesperson Edwin Lacierda said.

Lacierda added that Paderanga's "institutional memory and personal integrity" made him an effective undersecretary of Department of Agriculture (DA) and chief negotiator of the Philippines for the World Trade Organization (WTO), and also earned him the respect of his peers in academe.

"His good cheer, humble disposition, and intellectual rigor earned him the respect of so many, whether at home or abroad. We condole with his family, and join all who pause to reflect on his service to the nation during a life well lived," Lacierda said.

Paderanga stepped down from his post in NEDA in 2012, citing health reasons.

He also served as member of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) and executive director of the Asian Development Bank (ADB). He also taught at the University of the Philippines (UP) Diliman.