Recto appointed Finance Sec, vows PHP4.235T target

Newly appointed Finance Secretary Ralph Recto vowed to do his best to hit the government's target of collecting around PHP4.235 trillion in revenues this year during his swearing-in ceremony and subsequent press briefing on Friday.

Recto emphasized that achieving these targets is crucial for fiscal sustainability and funding the national development plan, as outlined by President Ferdinand 'Bongbong' Marcos Jr., who expressed confidence in Recto's competence and experience.

The new Finance chief also mentioned that the Philippine government would borrow P2.7 trillion by next year, underscoring the importance of consistent tax collection to meet both people's needs and government requirements.

Marcos highlighted Recto’s role as a major player in sustaining economic growth, reaching medium-term fiscal targets, and achieving developmental goals, leveraging his influence in Congress to ensure the passage of bills that accelerate growth and draw in investments.