Push Admin

Ralph Recto to take oath as new Finance Secretary: Palace

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Senate handout photo/file" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/09/28/20210309-recto-ralph-senate-prib-0.jpg"/><figcaption>Former senator and incoming Finance Secretary Ralph Recto. Senate handout photo/file</figcaption></figure></div>MANILA - House Deputy Speaker and Batangas Congressman Ralph Recto will be the Philippines&#x27; new Department of Finance secretary, the Palace confirmed Thursday.Press Secretary Cheloy Garafil said Recto will be taking his oath on Friday along with newly appointed Presidential Aide Frederick Go. &quot;Rep. Ralph Recto and Frederick Go are scheduled to take their oath tomorrow before President Ferdinand R. Marcos Jr. as Secretary of Finance and Special Assistant to the President for Investment and Economic Affairs, respectively,&quot; Garafil said.Recto&#x27;s wife, former Batangas Governor Vilma Santos-Recto, earlier disclosed the former senator&#x27;s new role in government.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/11/24/recto-to-take-oath-as-new-finance-secretary-vilma">Ralph Recto to take oath as new Finance Secretary: Vilma Santos</a></li></ul>“In fact, manunumpa siya tomorrow, January 12, bilang bagong Secretary of Finance under the administration of Ferdinand Marcos [Jr.]. Binigyan siya ng tiwala because he is such a good economist,” Santos said in an interview with Abante TeleTabloid. Recto will be taking over from incumbent Finance Sec. Benjamin Diokno.&quot;Andoon siya tomorrow kasama ako, kaniyang pamilya,&quot; Santos said when asked if Recto will be in Malacañang Palace on Friday.She added that she believes in her husband&#x27;s capacity to help to drive the country’s economic growth. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/12/06/23/recto-can-be-effective-finance-chief-investment-banker">Recto can be effective Finance chief: investment banker</a></li></ul>“I’m praying na sana he’ll do a good job and sana hindi na siya bigyan ng negatibong komento o bibigyan siya ng negative vibes because ang intensyon niya is talagang makatulong para maresolbahan ang problema natin sa ekonomiya,” Santos said.In a separate statement, Albay Rep. Joey Salceda said he &quot;welcomes&quot; the &quot;likely appointment of fellow tax reformer Rep. Ralph Recto as Finance Secretary.&quot;&quot;Recto brings in a wealth of experience in economic legislation and deep and longstanding relationships with members of Congress. This experience and network will be crucial in enacting meaningful reforms to address cost of living, create employment, and expand our fiscal space,&quot; he said.<figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/Uh7Hsjvlmvw?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>Before his stint as Representative of Batangas&#x27; 6th district, Recto served three terms in the Senate.He also served as Secretary General of the National Economic and Development Authority from 2008 to 2009 under former President Gloria Macapagal-Arroyo. During his Senate stint, Recto pushed for the Tax Reform for Acceleration and Inclusion (TRAIN) Act, the Rice Tariffication Act, the Ease of Doing Business and Efficient Government Service Delivery Act, among others. As a sitting Congressman, he is also listed as the principal author of several bills including measures that seek to help medium, small and micro-enterprises.Recto earned his Bachelor’s Degree in Commerce from De La Salle University. He holds a Master&#x27;s Degree in Public Administration from the University of the Philippines and an MA in Business Economics from the University of Asia and the Pacific.As Finance chief, Recto will join the Marcos administration’s cabinet and economic team in attracting investments and managing the country’s fiscal policy.Diokno was appointed as Finance chief by President Ferdinand Marcod Jr. at the start of his term. Before this, Diokno served as Governor of the Bangko Sentral ng Pilipinas, and Budget Secretary under former President Rodrigo Duterte.

House Deputy Speaker and Batangas Congressman Ralph Recto will be the Philippines' new Department of Finance secretary, the Palace confirmed Thursday.