Recto is ‘ideal, perfect, excellent’ choice as finance chief, lawmakers say

MANILA, Philippines — For many of his colleagues in Congress, Ralph Recto is the “ideal,” “perfect,” and “excellent” choice to lead the Department of Finance (DOF) given his track record as an economist.

Recto took his oath Friday as the new DOF Secretary.

“Deputy Speaker Ralph is the perfect choice as finance chief because of his extensive experience as an economist and his invaluable contributions to the country’s financial management, both as NEDA chief and legislator,” Senator Nancy Binay said in a statement.

Recto was director general of the National Economic and Development Authority (Neda) under then-President Gloria Macapagal-Arroyo.

Since Recto already has a good grasp of the “realities” and challenges facing the country, Binay said, there is no longer a need for him to start “at the bottom of the learning curve.”

“His expertise in finance and economics, and his experience in public administration are of great value to the Administration’s economic team,” she added.

Senators Grace Poe and Lito Lapid likewise praised President Ferdinand “Bongbong” Marcos’ choice of Recto as one of the country’s top economic managers.

“We don’t only have an assertive and bold Batangueno at the helm of the DOF, but a seasoned lawmaker and economist who can steer our financial state to a progressive path,” Poe said in another statement.

“I am certain Sec. Recto will use his competence, compassion, hard work, and brilliance to better the lives of the people,” she added.

For his part, Lapid thinks Recto could be the “best person” to implement the administration’s economic programs “with determination and confidence.”

“As a legislator, the contribution and legacy of Sec. Recto in promoting economic reforms to improve the lives of every Filipino could not be underestimated,” he said.

“He has been open-minded to listen and weigh different sides in complex matters,” Lapid added. He also vowed to support Marcos’ economic reform measures and programs.

Recto’s appointment was also hailed by former Senate President Franklin Drilon.

According to Drilon, Recto’s extensive experience in crafting financial policies would help steer the Philippine economy back onto the path of progress.

“As the Marcos administration works towards reviving our economy and regaining our status as one of Asia’s fastest-growing economies, Ralph Recto is unquestionably the ideal choice to lead this endeavor,” he said.

Meanwhile, in the House, Deputy Minority Leader Mujiv Hataman described Recto’s appointment at the DOF as an “excellent choice for this critical position.”

“Sen. Recto’s extensive experience, superb competence, and unyielding work ethic make him an excellent choice for this critical position,” Hataman said.

The lawmaker then cited Recto’s “remarkable” track record as the latter headed key committees when he was still a senator.

“His comprehensive understanding of the intricate details of economic and financial matters is undoubtedly an asset as we navigate the complex challenges facing our nation,” Hataman pointed out.