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Recto mum on appointment rumors as new finance chief

The Marcos government had wanted too to get its fiscal house in order, but faced with setbacks, at the last interagency Development Budget Coordination Committee (DBCC) meeting in June, the economic team recast its 2025 deficit-to-GDP ratio to a wider 5.5 percent from just 5.3 percent during its December review.

Metro Manila (CNN Philippines, November 30) — House Deputy Speaker Ralph Recto was tight-lipped on rumors about him replacing Benjamin Diokno as the country’s finance secretary.

“I have no idea. I cannot comment on that,” when asked on Thursday regarding rumors that his appointment letter was already signed by President Ferdinand Marcos Jr.

“That’s the president to decide,” Recto said, adding he has been “focused here on the [2024 proposed] budget.”Recto, who also previously served as a senator, was further pressed regarding his participation in the 2023 Asia-Pacific Economic Cooperation Summit in the US, which allegedly fuel speculations on him being the new head of the Department of Finance.But Recto said he was there “representing the House.”

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