Outgoing Finance Secretary Benjamin Diokno (File photo from Joseph Vidal/Senate PRIB)
MANILA, Philippines — Outgoing Finance Secretary Benjamin Dioko is “pleased” to hand over his post to Batangas Sixth District Representative Ralph Recto.
Recto is set to assume the post of Diokno later on Friday afternoon when the lawmaker will take his oath before President Ferdinand “Bongbong” Marcos Jr. in Malacañang.
“I am pleased to announce that I will be turning over my seat as Finance Secretary to Deputy Speaker Ralph Recto,” said Diokno in a statement on Friday.
Diokno’s term as Department of Finance (DOF) Secretary lasted for nearly two years.
During his term, he led the country’s economic team in creating the Philippines’ Medium-Term Fiscal Framework.
DOF said the framework is the government’s program on fiscal consolidation.
Reports on Diokno resigning as DOF secretary circulated as early as 2022.
In November of that year, he denied the rumors.
Speculations that Recto would take over Diokno’s job spread when the lawmaker accompanied the President during a trip to the United States in November 2023.
According to Diokno, he is leaving the department beaming with pride.
“I am proud knowing that I will be leaving my post at a time when the Philippine economy, in general, and the DOF, in particular, are in a better state of affairs than when I inherited them,” the outgoing Finance secretary recalled with satisfaction.