President Ferdinand “Bongbong” Marcos Jr. on Monday appointed Finance Secretary Ralph Recto as the new Executive Secretary and investment chief Frederick Go as the new Finance Secretary, instituting major changes in the administration following the departure of two key Cabinet officials.
In a press briefing, Presidential Communications Office Undersecretary Claire Castro announced the changes after President Marcos accepted the resignations of Executive Secretary Lucas Bersamin and Department of Budget and Management (DBM) Secretary Amenah Pangandaman “out of delicadeza.”
“Both officials respectfully offered and tendered their resignations out of delicadeza. After their departments were mentioned in allegations related to the flood control anomaly currently under investigation and in recognition of the responsibility to allow the administration to address the matter appropriately,” Castro said.
Recto, a veteran economic policymaker and former senator, will now oversee the daily operations of the Office of the Executive Secretary and coordinate the implementation of high-impact government programs.
“Secretary Recto’s long record in economic policymaking, fiscal legislation, and national planning positions him well to oversee the day-to-day operations of government and coordinate the implementation of high-impact programs,” Castro said.
Go, who has been serving as Special Assistant to the President for Investment and Economic Affairs, assumes leadership of the Department of Finance.
Go has been central to investment promotion, investor confidence efforts, and economic policy alignment across agencies.
“Secretary Go has played a central role in advancing investments, strengthening investor confidence, and aligning economic initiatives across agencies,” Castro stated.
“He will now oversee the country’s fiscal direction and the implementation of the administration’s economic agenda,” she added.
As of writing, the position of Special Assistant to the President for Investment and Economic Affairs remains vacant, according to Castro.
Meanwhile, Undersecretary Rolando Toledo, who leads the Budget Preparation and Execution Group, was tapped as DBM’s officer-in-charge to ensure continuity as the government finalizes next year’s national budget, supports disaster recovery efforts, and maintains funding for ongoing social and economic programs.
Castro noted that Mr. Marcos expressed deep appreciation for Bersamin’s “steady leadership” and for Pangandaman’s role in strengthening fiscal management and ensuring the timely passage of national budgets.
Moreover, Malacañang assured that governance will continue without interruption amid the shakeup.
“These leadership changes reinforce the President’s commitment to strengthening institutions, improving coordination across government, and keeping the administration focused on delivering stability, opportunity, and security to Filipino families,” Castro said.
