President Marcos has officially named House Deputy Speaker Ralph Recto as the new secretary of the Department of Finance (DOF), replacing Benjamin Diokno, who was one of the first people to join the Marcos government.

Communications Secretary Cheloy Garafil confirmed this in a text message on Thursday evening, Jan. 11. She said Recto will take his oath before President Marcos in Malacañan on Friday, Jan. 12.

The confirmation came months after reports of Recto joining the administration first surfaced.

Recto's appointment was first confirmed by his wife, actress and former Batangas Governor Vilma Santos-Recto, on Thursday.

The new Finance chief is not a stranger to economic policy as he was named the director-general of the National Economic Development Authority (NEDA) in 2008 by former president Gloria Macapagal Arroyo.

Among the economic laws that Recto, a former senator, authored and sponsored were the Rice Tariffication Act and the Salary Standardization Law, among others.

Recto obtained his bachelor’s degree in commerce from the De La Salle University. He has a certificate in business economics from the University of Asia and the Pacific, and units in the University of the Philippines (UP)’s public administration program.

Meanwhile, aside from Recto, Garafil said Frederick Go will also take his oath as Special Assistant to the President for Investment and Economic Affairs before President Marcos on Friday.