Recto's predecessors pledge support

Finance Secretary Ralph G. Recto has received assurance from his predecessors of their full support, pledging to assist him whenever he may need it.

Former finance secretaries Cesar V. Purisima, Carlos G. Dominguez III, and Margarito B. Teves have expressed their support for Recto and assured him of their readiness to provide assistance as needed.

During the turnover ceremony on Monday, Jan. 15, Recto expressed his enthusiasm for learning from the valuable insights and experiences of the finance secretaries who have preceded him.

Recto said he is looking “forward to tapping the wisdom of my illustrious predecessors.”

Sought for comment, Dominguez, who held the position of Department of Finance (DOF) secretary during the Duterte administration, expressed his willingness to assist Recto, stating, "I will be happy to help Ralph.”

During Dominguez's term, he worked alongside Recto in enacting key legislation, including the Tax Reform for Acceleration and Inclusion Act, Financial Institutions Strategic Transfer Act, and the Corporate Recovery and Tax Incentives for Enterprises Act.

As for his part, Purisima, who received the Finance Minister of the Year award from various international institutions for six consecutive years, expressed his utmost respect for the new finance chief.

“Secretary Ralph was always one of the key advocates for the DOF agenda when he was in the legislature,” Purisima said. “I would be honored to share my humble thoughts if so requested."

Recto served as the Senate ways and means committee chairman while Purisima was the DOF chief in the Aquino administration.

Together with Dominguez and Purisima, Teves also voiced his support of Recto, affirming his willingness to provide any assistance necessary to help the DOF chief achieve his "challenging" fiscal goals.

“I'm very grateful to Secretary Ralph for conveying such a generous compliment," Teves said. "We would be glad to assist Secretary Ralph in any way we can to help him achieve his very challenging fiscal goals," Teves said.

He added that Recto has what it takes to succeed, citing his intelligence, experience as a legislator, and former role as director general of the National Economic and Development Authority (NEDA).

“His highly competent and professional team at the DOF will help ensure that the fiscal goals, mutually agreed upon by Secretary Ralph and the President, will be achieved during his tenure at the DOF,” said Teves, finance chief in the Arroyo administration.

Former Finance Secretary and current Bangko Sentral ng Pilipinas Monetary Board Member Benjamin E. Diokno, meanwhile, praised Recto as a seasoned policymaker and unwavering patriot. 

Diokno said that Recto sponsored several crucial economic and tax reforms, which have positively transformed the Philippine economy and reignited its growth potential.

“Ralph is no stranger to the kind of hard work, tough decision-making, and consensus-building required of this post,” Diokno added.