Former Finance Secretary and now Bangko Sentral ng Pilipinas (BSP) Monetary Board Member Benjamin Diokno officially turned over the Department of Finance (DOF) leadership to newly appointed Finance Secretary Ralph Recto in a ceremony on Monday.

“Ralph is a seasoned policymaker and an undeniable patriot. He has sponsored several key economic and tax reforms that have transformed our economy for the better and reignited the country’s growth potential,” Diokno said.

“Ralph is no stranger to the kind of hard work, tough decision-making, and consensus-building required of this post,” he added.

In response, Recto praised Diokno for his commendable service, saying he is confident that Diokno would continue contributing positively to the welfare of the nation in his new role.

He said that taking on the responsibility of following Diokno’s footsteps is both an honor and a challenge but he draws reassurance from the knowledge that he has a skilled team within the DOF, its attached agencies, and bureaus.

Additionally, he looks forward to leveraging the wisdom of his predecessors.

“I find reassurance in knowing that I am not alone in this journey. I am surrounded by a team of highly talented and competent individuals within the DOF, its attached agencies, and bureaus, all equipped with the necessary skills to navigate the challenges we face today and those that await us in the future. I also look forward to tapping the wisdom of my illustrious predecessors,” he said during the turnover ceremony.

Recto likewise expressed confidence in surmounting any challenges in pursuit of actualizing the President's vision articulated in the national development plan through increased effort, sincere dedication, rethinking the way of doing things, and innovating governance.

“I count on everyone’s support and cooperation as we collectively deliver an economy that works for the betterment of every Filipino and the future generations to come,” he said. DOF Information Management Service