towards Chloe Mari A. Hufana and Aubrey Rose A. Inosana, Journalists
Philippine President Ferdinand R. Marcos, Jr. On Monday he was appointed FileNance Secretary Ralph G. Recto as The new secretary and the economy Czar Frederick D. Go will take over the Treasury Department, a major marker The Cabinet has risen since the explosion of The Multibillion-Peso Control Scandal.
“This leadership change reinforces the President’s commitment to strengthening institutions, improving communication across the government, and keeping the administration focused on bringing resilience, opportunity, Philippine territory manager Claria A. Castro told a news conference.
The appointment was announced after Mr Marcos was accepted Resignation of the Chief Secretary Lucas P. Bersamin and Budget Secretary Amenah F. Pangandaman.
“Both officials were respectfully offered and hoped to leave Delicadezaafter their departments were called with allegations related to the Anomaly of flood control at the moment at the end and taking the responsibility to allow proper management, “said Ms. Castro.
He said Mnuct Recto’s background in economic law and national planning “places him well” to oversee day-to-day government operations and coordinate high-impact programs as Chief Secretary.
He wanted to comment in the Senate, Mr. Recto told reporters that he had not yet spoken to the President.
“It’s amazing but the work has to go on. Actually, I think this is the role [executive secretary] rule … you can’t do miracles. Our job is to improve governance,” said Mr. Recto.
Regarding the appointment of Mr.
In the statement, Mr. Greet thanked the President for “his trust and confidence.”
“Seeing the challenges and opportunities ahead, I am fully committed to promoting the financial strength and sustainable economic growth of the country,” said Mr Go.
There is no other return to the position of Mr Go, who holds the title of special assistant to the President for investment and economic affairs.
Sub-budget Rolando U. Toledo will beefICR in charge of the Department of Finance and Management (DBM).
“(Mr. TOLEDO’s) Ensuring uninterrupted operations as the government prepares for the release of the next year’s budget, ongoing efforts to recover from disaster-affected regions, and funding of social and economic programs,” said Mas Castro.
The Philippine government is investigating the multibillion-Peso public broadcaster that Mr. Marcos presented during his National Phezulu state in July. Federal authorities and lawmakers are accused of clearing private contractors of receiving billions in kickbacks from public works projects.
RIMAL Commerce Banking Corp. Economist Michael L. Ricafufort said Mnucto Recto shows a focus on reform.
“Drawing on his 20 years of experience in financial methods and policy, the serious pursuit of fraud and high levels of fraud – similar to the efforts of the last 10-15 years – can have positive effects on the country’s economy and financial markets,” he said.
Growth at 4.7%
Before the announcement of his appointment as secretary general, Mr. Recto said that the Philippine economy is likely to expand by at least 4.7% this year.
In a statement posted on Monday morning, he said the economy remains “strong,” supported by stable fundamentals, investment opportunities, and faster growth than debt “.
“By the end of 2025, the real interest rate we pay is only 3.3%, while our economy is expected to grow by 4.7% to 4.8%,” said Mr. Recto.
The growth of the Philippine Gross Domestic Product (GDP) reached 5% in the first nine months, falling short of the target of 5.5-6.5% for 2025.
The government’s crackdown on fraud since August has hurt economic growth and consumer and investor confidence.
“We do not see the challenges, and we are not motivated by them. What you see today is not a leadership problem, but the government is turning itself into a luxury, not an apologist,” said Nkrecto.
He emphasized that trust is the lifeblood of any economy.
“It keeps investments flowing, businesses expanding, and jobs growing. That trust is being secured, strengthened, and rebuilt every single day under the Marcos Administration,” he said.
Mnuco Recto, who is part of the monetary board, said that the weak inflation gives the bangko sentral ng pipipinas (BSP) room to cut interest rates, to support housing spending and economic growth.
“Above all, we are assuring the Filipino people that our fiscal policy is being followed, and everything that is going on is going forward,” he said, noting that the government will gradually reduce the deficit and debt.
The Marcos administration aimed to reduce Discal DefiThe OCT was 5.5% of GDP in 2025, a gap that eased and went to 3.1% in 2030.
The country’s outstanding debt stood at P17.46 trillion as of September but remained above the P17.36-Trillion annual plan.
