Rep. Ralph Recto named new finance secretary

Deputy Speaker and Batangas Rep. Ralph Recto (File photo from Senate PRIB)

MANILA, Philippines — Malacañang on Thursday confirmed that Deputy Speaker and Batangas Rep. Ralph Recto will take his oath as the new finance secretary.

In a message to reporters, Presidential Communications Office Secretary Cheloy Garafil said that President Ferdinand “Bongbong” R. Marcos Jr. will administer the oath on Friday. 

Business tycoon Frederick Go will also be sworn in as Marcos’ economic czar. 

“Rep. Ralph Recto and Frederick Go are scheduled to take their oath tomorrow before President Ferdinand R. Marcos Jr. as Secretary of Finance and Special Assistant to the President for Investment and Economic Affairs, respectively,” said Garafil.

Recto will replace Benjamin Diokno.

Rumors of Recto replacing Diokno have been swirling since the lawmaker joined Marcos in his trip to the United States for the Asia-Pacific Economic Cooperation Forum in November 2023.

Recto, who is also a former senator, had a brief stint chief of the National Economic and Development Authority during the administration of then president Gloria Macapagal Arroyo.

This marks the second time that Marcos appointed a member of the House of Representatives into the Presidential Cabinet.

Former Valenzuela Rep. Rex Gatchalian was earlier appointed social welfare secretary.