Ralph Recto is new DOF chief, to take oath Friday, says wife Vilma

House Deputy Speaker Ralph Recto has been picked as secretary of the Department of Finance (DOF) and is set to take his oath on Friday.

This was confirmed to GMA Integrated News by Recto's wife, former Batangas 6th District Representative Vilma Santos-Recto, on Thursday afternoon. 

Santos-Recto said the oath-taking ceremony will be held after lunch in Malacañang. Recto will replace outgoing Finance Secretary Benjamin Diokno.

In a message to reporters on Thursday evening, the Presidential Communications Office (PCO) confirmed Recto's appointment to the finance portfolio.

"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 PCO Secretary Cheloy Velicaria-Garafil.

Support from senators

Recto's former colleagues in the Senate welcomed the development and vouched for his knowledge of economics.

“In the Senate, we always regarded him as the resident numbers genius. This was not just for his mathematical ability, but more importantly for his ability to immediately see the big picture implications of these numbers,” Senate President Juan Miguel Zubiri said in a statement.

“More than most, he understands how to bridge the gap between the abstractions of mathematics and the very concrete realities that we face as a nation. So I have no doubt that he will be a good Finance Secretary, who will continue to push the country along on the road to greater economic prosperity,” he added.

Senator Francis Escudero said Recto is “an able and capable addition” to President Marcos' cabinet in ensuring that we continue to sustain the economic gains we have thus far achieved.

Vote of confidence

For his part, Sen. Sherwin Gatchalian, Senate ways and means committee chairman, vouched for Recto's extensive experience in finance and economic policy.

This, he said, makes him a valuable addition to the economic team.

"I am confident in his ability to drive initiatives that will efficiently implement reforms in the country's tax system," he said.

"The Senate Committee on Ways and Means looks forward to working collaboratively with him to realize our shared objectives and foster a more robust, prosperous future for our nation," he added.

Senator Sonny Angara said he can attest to Recto's "political acumen and sterling intellectual abilities."

"His knowledge of the political and fiscal structures of the country will serve us well in the future," Angara added.

Meanwhile, Senate Minority Leader Aquilino “Koko” Pimentel III "commiserate[d]" with Recto "on his assumption to a difficult job at a very turbulent moment."—Anna Felicia Bajo and Hana Bordey/KBK/ VDV/ GMA Integrated News