Former Deputy Speaker and Batangas Rep. Ralph Recto officially assumed his post as Finance Secretary yesterday during a turnover ceremony at the DOF office in Manila.
He praised his predecessor, former Finance chief Benjamin Diokno, for the latter’s commendable service.
Recto said taking on the responsibility of following Diokno’s footsteps was both an honor and a challenge, but he draws reassurance from the knowledge that he has a skilled team within the DOF, its attached agencies, and bureaus.
“I find reassurance in knowing that I am not alone in this journey. I am surrounded by a team of highly talented and competent individuals within the DOF, its attached agencies, and bureaus, all equipped with
the necessary skills to navigate the challenges we face today and those that await us in the future. I also look forward to tapping the wisdom of my illustrious predecessors,” he said during the turnover ceremony.
“I count on everyone’s support and cooperation as we collectively deliver an economy that works for the betterment of every Filipino and the future generations to come,” he added.
Recto earlier vowed to do his best to hit the government’s target to collect around P4.235 trillion in revenues this year.
“[I would] make sure that money is spent wisely, the idea is to stretch every peso, including acting faster on investment,” he said.
The revenue target for 2024 was earlier projected by the Development Budget Coordination Committee.
Diokno, who is now a member of the Bangko Sentral ng Pilipinas (BSP) Monetary Board, commended Recto’s qualifications and experience, highlighting his role in enacting key economic and tax reforms that
have revitalized the country’s growth potential.
He described Recto as a “seasoned policymaker and an undeniable patriot,” well-equipped to handle the challenges and demands of the Finance Secretary position.
“He has sponsored several key economic and tax reforms that have transformed our economy for the better and reignited the country’s growth potential,” Diokno said.
“Ralph is no stranger to the kind of hard work, tough decision-making, and consensus-building required of this post,” he added.