RALPH Recto has formally assumed the post of Secretary of Finance, President Ferdinand Marcos Jr. confirmed on Friday, Jan. 12, as he introduced the Batangas lawmaker as the new Finance chief during a ceremony in Malacañang.
“A gentleman that I do not think needs very much introduction, as he has been in public life since we were very young Congressman together, Secretary Ralph Recto for the Department of Finance,” Marcos said.
Recto was introduced as a new member of the Marcos cabinet along with Special Assistant to the President for Investment and Economic Affairs.
Recto’s appointment was welcomed by National Economic and Development Authority secretary Arsenio Balisacan who said he looks forward to working with Recto.
The Department of Budget and Management meanwhile said Recto can expect the agency’s full support.
House Speaker Martin Romualdez also praised Recto’s appointment.
“His extensive knowledge and profound grasp of economics uniquely qualify him for this crucial role, making him the most fitting candidate,” Romualdez said.
His former colleagues in the Senate also said Recto was fit for the job.
Meanwhile, the Bankers Association of the Philippines said “Recto is equipped with the necessary experience to promote Philippine economic growth through the implementation of effective fiscal policy, having served as Secretary General of the National Economic and Development Authority and as a Senator who has advocated for pro-growth laws.”
“As head of the Marcos administration’s economic team, Secretary Recto will play a critical role in the reformation of fiscal and economic policies, together with balancing political realities. We are confident that he will succeed in his role, to the benefit of the Filipino public,” the BAP said. (ABS-CBN News)
