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Manila Bulletin devider Business devider Recto denies 2025 election bid speculations

Recto denies 2025 election bid speculations

'Nothing will change my mind'

Published Mar 13, 2024 09:54 am

Amid swirling rumors, Finance Secretary Ralph G. Recto announced that he has no plans to seek re-election to the Senate next year, and nothing can sway this decision.

After the Commission on Appointments unanimously approved his ad interim appointment as the Department of Finance (DOF) chief, Recto said that his current priority is to support the Marcos administration in its pursuit of success.

“No plans of running next year,” Recto told reporters when asked about his potential candidacy for another Senate term in the upcoming May 2025 midterm elections.

When pressed about what could potentially change his decision, the four-term former senator firmly stated, “Nothing will change my mind.”

"This is my calling at the moment. The President has personally requested me to assist his administration. We aim for his administration to succeed for the benefit of all of us,” Recto said.

Since his appointment as the DOF chief last February, rumors have circulated about the former lawmaker potentially not planning to stay long-term in the Cabinet and contemplating a gubernatorial bid in Batangas or a run for the Senate.

While the 2025 election is no longer being considered, speculation persists that Recto might leave President Marcos' Cabinet before the start of the campaign period for the 2028 national elections.

When asked by reporters if he intends to complete President Marcos' term until 2028, the finance chief simply responded, "I serve at the pleasure of the President."

On the other hand, Recto said that the Marcos administration has no intention of introducing new taxes until 2025.

“Only those that are already in the advanced stages in Congress. So we are only pursuing the six measures that are here in Congress today,” the finance chief said.


READ: DOF Clarifies: Pause on new tax proposals, not new taxes


However, he also stated that they “will cross the bridge when we get there” when asked about whether the public can expect zero new taxes during President Marcos' six-year term.

“As of now, we are not proposing anything new, only what is on the table,” Recto said.

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Department of Finance (DOF) ralph recto Finance Secretary
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