THE Commission on Appointments (CA) confirmed on Wednesday, March 13, 2024, the appointment of Finance Secretary Ralph Recto.
Recto’s appointment was approved during a plenary session following the recommendation of the CA committee on finance chaired by Senator Ramon Revilla Jr.
Revilla during the session expressed strong belief that with Recto, the country is in good hands.
“I take pride in endorsing the distinguished individual who possesses the expertise and commitment needed to lead our nation towards economic prosperity and fiscal stability. With him at the helm, we know that the Department of Finance is in good hands,” Revilla said.
"Indeed, Secretary Recto’s extensive experience in governance, profound perception of economic policies, and innovative approach to financial management make him the ideal Finance secretary equipped to steer our nation's financial affairs towards the right direction," he added.
Other senators including Jinggoy Estrada, Ronald “Bato” dela Rosa and Cynthia Villar also expressed support to Recto’s leadership of the finance department.
Recto was appointed by President Ferdinand Marcos Jr. as the finance secretary in January, prompting him to relinquish his post as the representative for the Sixth District of Batangas and the deputy speaker of the House of Representatives.
Rector authored the Expanded Value-Added Tax, the Rice Tariffication Law, and the Rent Control Act, among others.
Recto then immediately ordered the department to ensure the collection of P4.3 trillion in taxes for the year.
He said he also has no plans of imposing additional taxes as the country recovers from the effects of the Covid-19 pandemic, but he noted the need for the government to pursue tax reforms, such as the Ease of Paying Taxes, intensification of implementation of digitalization initiatives, strengthen enforcement efforts, improve the administration of taxes and intensify its anti-corruption drive. (TPM/SunStar Philippines)