Media

PRESS RELEASE Finance Secretary Ralph G. Recto has credited the easing of the 2024 average inflation rate to 3.2%—well within target—to effective government interventions that sustained the moderation of rice prices, providing much-needed relief to low-income families. The...

PRESS RELEASE The Department of Finance (DOF) has commended the Land Bank of the Philippines (LANDBANK) and the Development Bank of the Philippines (DBP) for maintaining their strong financial position, making them even more well-equipped to provide more services to...

PRESS RELEASE Finance Secretary Ralph G. Recto has underscored that the PHP 6.326 trillion national budget for 2025 is the government’s most powerful tool to deliver the biggest economic benefits to Filipinos, assuring the Department of Finance’s (DOF) strong commitment to work...

PRESS RELEASE Finance Secretary Ralph G. Recto has maximized non-tax revenues in 2024, collecting a record-high amount to support more projects and programs that will uplift the lives of the Filipino people. As of the end of November 2024, non-tax revenue collections reached PHP...

PRESS RELEASE The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) have both ramped up their respective digitalization and strict enforcement initiatives in 2024, which drove higher tax collections for the year. “I commend both the BIR and BOC for their...

PRESS RELEASE The Marcos, Jr. administration has successfully secured concessional official development assistance (ODA) financing and grants from development partners in 2024 to fund the high-impact infrastructure projects under the Build Better More program as well as other...

PRESS RELEASE The Department of Finance (DOF) and the Department of Energy (DOE) signed on December 4, 2024 a joint memorandum circular that allows qualified electric cooperatives (ECs) to seek tax exemptions from local government units (LGUs), reducing financial burdens and...

PRESS RELEASE The much-awaited enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act in 2024 is one of the Marcos, Jr. administration’s biggest Christmas and New Year’s gifts to both local...

EJAP President Neil Jerome Morales; fellow workers in government; and friends from the media: good morning. It’s very nice to see all of you again.  In the past six months that I have been Secretary of Finance, we have already made countless policy decisions. And I have seen...

by Ralph G. RectoSecretary of Finance To the hardworking men and women of the Department of Finance: magandang umaga sa inyong lahat. I am very pleased to see all of you here today as we kick off the 127th-anniversary celebration of the Department of Finance.  127 — imagine...

by Secretary of Finance Ralph G. RectoMarch 21, 2024 EJAP President Neil Jerome Morales; friends in the media: good evening and welcome to the DOF.  Although our venue tonight is a workplace, I hope that shoptalk will be kept at a minimum. In that spirit, I have even purged...

By Finance Secretary Ralph G. Recto Senate President Juan Miguel Zubiri; Vice Chairman Ramon Guico, Jr., Honorable Members of the Commission from the bigger and brighter House, and from the smaller and smarter house. Magandang umaga po sa inyong lahat. In taking this hot seat, I...

Ralph G. Recto Secretary of Finance February 21, 2024 PICC Manila Officials and representatives from G-24 member countries, distinguished guests from our international financial partner institutions, and colleagues from the G-24 Secretariat: Good morning. On behalf of the...

By Deputy Speaker and Batangas Rep. Ralph G. Recto 15 May 2023 Ginoong Speaker, mga katrabaho sa bulwagang ito: Mother’s Day po kahapon.  And mothers who have passed to the Great Beyond are deeply missed, lovingly remembered, Mother’s Day or not. Their memories are...

Explanation of Vote By Deputy Speaker and Batangas Rep. Ralph G. Recto 15 May 2023 Mr. Speaker, my dear colleagues:  To the casual observer, our defense material acquisition treads on two tracks. The first is to rely on hand-me-downs, sometimes mothballed pieces, which...

Explanation of Vote  House Bill 7751 – An Act Establishing Specialty Centers In Hospitals Under The Direct Supervision And Control Of The Department Of Health, And Appropriating Funds Therefor By Deputy Speaker and Batangas Rep. Ralph G. Recto 8 May 2023 Mr....