The Department of Finance (DOF) is now supporting the creation of the Bulacan Special Economic Zone and Freeport (BuZ) next to the new airport being built by San Miguel Corp. (SMC). Finance Secretary Ralph G. Recto told Manila Bulletin that he sees no drawbacks in Senate Bill No. 2572, aiming to...
Finance Secretary Ralph G. Recto has now officially settled into his role as a member of President Marcos' economic team, following his confirmation by the powerful Commission on Appointments (CA). During the 42-minute CA hearing last March 13, Recto received mostly praises and well-wishes from the...
In the urban landscape of Metro Manila, where available land is increasingly scarce, the Department of Finance is suggesting the development of new modern business districts on two large state-owned lands that could replicate the success of Bonifacio Global City (BGC). Finance Secretary Ralph G....
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...
Finance Secretary Ralph G. Recto has expressed confidence that the Philippines is on track to become a global powerhouse by 2050, positioning itself to become a part of the prestigious G20 group of leading world economies. Recto told reporters on Wednesday, March 13, that the country's...
To address the government's growing debt, Finance Secretary Ralph G. Recto suggested the possibility of selling the land currently housing the Ninoy Aquino International Airport (NAIA) in Parañaque City. Recto estimated that leveraging the 600-hectare NAIA property, equivalent to six million...
Finance Secretary Ralph Recto officiated the swearing-in ceremony for the newly appointed officials of the Department of Finance on Monday, March 11. In the photo, from left to right, are Director Cherry Mae P. Gonzales, Undersecretary Joven Balbosa, Recto, Undersecretary Rolando G. Tungpalan,...
The Department of Finance (DOF) said the government is determined to drive pro-business reforms, enhance the regulatory framework, reduce the cost of doing business, and tackle existing constraints in the country. Finance Secretary Ralph G. Recto said these initiatives are integral part of their...
The Department of Finance (DOF) is open to consider the proposal to reevaluate the possibility of reactivating the mothballed Bataan Nuclear Power Plant (BNPP). In an effort to address the high electricity costs in the country, Finance Secretary Ralph G. Recto said the planned third-party...
Despite the rise in the unemployment rate, the Department of Finance (DOF) noted that the quality of employment in the country is improving, with an increasing number of Filipinos securing formal and stable jobs. Finance Secretary Ralph G. Recto said that the Philippines had a total of 45.9 million...
Senator Pia Cayetano has expressed her full support to the government’s plan to ban disposable vapes in the country . Sen. Pia Cayetano (Senate PRIB Photo) “Yes, I support the banning of disposable vapes. Number one, vapes are very dangerous,” Cayetano said in an interview...
Finance Secretary Ralph G. Recto emphasized that the recent affirmation of the Philippines' investment-grade credit rating by Japan Credit Rating Agency (JCR) will directly benefit ordinary Filipinos. Recto said the favorable credit rating will free up funds from interest payments for increased...
