Malacañang dismisses Recto resignation rumors

Metro Manila, Philippines - Malacañang said Ralph Recto stays as finance secretary and denied online rumors that the Cabinet official was on his way out as finance.

Palace Press Officer Claire Castro said in a text message, “NOT TRUE.”

The reason for the supposed resignation was unclear as well.

President Ferdinand R. Marcos Jr. appointed Recto as finance chief in January 2024. A former senator and representative, Recto also briefly served as director-general of the National Economic and Development Authority under the Arroyo administration in 2008.

In May 2025, Recto submitted his courtesy resignation in line with Marcos’ directive for all Cabinet members to do the same as part of an administration “recalibration.”

The president rejected his resignation later that month, citing continued trust and confidence in the department’s leadership.