House Deputy Speaker and economic expert Ralph Recto has been appointed the new Secretary of Finance, replacing Benjamin Diokno. The move is welcomed by lawmakers who laud Recto’s experience and expertise.
Senate President Juan Miguel Zubiri praised Recto, calling him the “resident numbers genius” and highlighting his ability to translate economics into real-world solutions. Fellow lawmaker Joey Salceda echoed the sentiment, citing Recto’s extensive experience in tax reform and economic legislation.
Recto’s background is seen as crucial in tackling pressing issues like inflation, job creation, and fiscal expansion. He takes over from Diokno, whose tenure was marked by the controversial rice price ceiling policy implemented without consulting economic managers.
The appointment raises hopes for a more data-driven and collaborative approach to managing the Philippines’ finances. Recto’s expertise and connections in Congress could prove valuable in implementing reforms and navigating the country’s economic challenges.
Source: PhilNews24 | January 12, 2024
