Marcos Jr. appoints Recto as DOF sec, Go as SA for inv

President Ferdinand Marcos Jr. appointed former Senator Ralph G. Recto as the new Department of Finance secretary on Friday, January 12, replacing outgoing Secretary Benjamin Diokno who handed over his post to Recto at a ceremony in Malacañang Palace.

Recto took his oath alongside Frederick Go, who was sworn in as Special Assistant to the President for Investment and Economic Affairs during the same event.

With extensive experience including stints as NEDA director general under former President Gloria Macapagal-Arroyo and as an economist and legislator, Recto is expected to drive economic reforms and attract investments.

Outgoing Finance Secretary Diokno expressed pride in leaving the department on a solid footing after nearly two years of service, during which he led the crafting of the Philippines' first-ever Medium-Term Fiscal Framework (MTFF) and helped trim the debt-to-GDP ratio to 60.2% in Q3 2023.

Colleagues praised Recto's appointment, noting his expertise in finance and economics and his extensive experience in public administration.