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President-elect Ferdinand "Bongbong" Marcos Jr. has appointed Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno as the next Secretary of the Department of Finance (DOF).
Diokno accepted the post, citing the 31 million Filipinos who elected Marcos Jr. and the country's current economic challenges.
He will cut short his BSP term, with Monetary Board member Felipe Medalla set to succeed him as BSP Governor.
The Bankers Association of the Philippines (BAP) expressed confidence in Diokno and Medalla, noting their experience and scholastic distinction.
BAP president Antonio C. Moncupa Jr. stated that the association will continue to cooperate with the BSP and DOF to promote fiscal stability and socio-economic development.
Marcos Jr. considered several other candidates for the DOF post, including former finance secretaries, bankers, and a Davao-based politician and businessman.
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Business groups have welcomed President-elect Ferdinand Marcos Jr.'s appointments to his economic team.
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President-elect Ferdinand "Bongbong" Marcos Jr. announced additional Cabinet appointees on Thursday, May 26, 2022.
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President-elect Ferdinand "Bongbong" Marcos Jr. announced that Felipe Medalla, a Monetary Board member, will be the next governor of the Bangko Sentral ng Pilipinas (BSP) starting July 1.
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Incoming Finance Secretary Benjamin Diokno plans to prioritize fiscal consolidation to lower the debt and deficit-to-GDP ratios.
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Bangko Sentral ng Pilipinas (BSP) Assistant Governor Amenah Pangandaman has accepted the offer to be the next Secretary of the Department of Budget and Management (DBM) under the incoming Marcos administration.
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