RalphRecto.Ph

APR

03

2025

Supreme Court Opening Statement of Secretary Ralph G. Recto

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TAG Bayanihan 1, Bayanihan 2, Bayanihan 3, Commission on Audit (COA), Covid-19 frontliners, debt-to-GDP, Department of Finance (DOF), Department of Health (DOH), General Appropriations Act (GAA) of 2024, Government Service Insurance System (GSIS), government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), Health Facilities Enhancement Program (HFEP), Insurance Contract Liabilities (ICLs), Medium-Term Fiscal Framework (MTFF), National Treasury, Office of the Government Corporate Counsel (OGCC), Office of the Solicitor General (OSG), Philippine Health Insurance Corporation (PhilHealth), President Ferdinand Marcos Jr, Ralph Recto, Social Security System (SSS), Solicitor General, Supreme Court (SC), Universal Health Care Act

APR

03

2025

Recto: Move to redirect PhilHealth’s excess funds straight to Filipinos is legal, moral, and economically sound

PRESS RELEASE Finance Secretary Ralph G. Recto defended the national government’s move to implement Congress’ mandate to redirect the Philippine Health Insurance Corporation’s (PhilHealth) excess and idle funds to critical health and social programs as not only within legal

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TAG Bayanihan 1, Bayanihan 2, Bayanihan 3, Commission on Audit (COA), COVID-19, Department of Finance (DOF), Department of Health (DOH), Governance Commission for GOCCs (GCG), Insurance Contract Liabilities (ICLs), Medium-Term Fiscal Framework (MTFF), Office of the Government Corporate Counsel (OGCC), Office of the Solicitor General (OSG), Philippine Health Insurance Corporation (PhilHealth), Ralph Recto, Supreme Court (SC)

APR

02

2025

Recto: Redirecting GOCCs’ excess funds straight to Filipinos is crucial to accelerate economic recovery; reversing it would entail fiscal pressure

PRESS RELEASE Finance Secretary Ralph G. Recto defended the national government’s move to implement Congress’ mandate to redirect the government-owned and controlled corporations’ (GOCC) excess and idle funds to critical health and social programs as a crucial policy to

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TAG Bayanihan 3, Department of Finance (DOF), DOF Circular No. 003-2024, General Appropriations Act (GAA) of 2024, government-owned and controlled corporations (GOCCs), Medium-Term Fiscal Framework (MTFF), National Treasury, Philippine Health Insurance Corporation (PhilHealth), Raph Recto, Supreme Court

JAN

07

2025

Recto: 2024 average inflation eased to 3.2% as gov’t interventions sustained rice price moderation, benefitting low-income families

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

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TAG African swine fever (ASF), Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO), KADIWA ng Pangulo (KNP), Ralph Recto, Rice Competitiveness Enhancement Fund (RCEF)

JAN

02

2025

DOF commends state banks for their strong financial footing, well-equipped to provide more services to Filipinos

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

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TAG Bangko Sentral ng Pilipinas (BSP), Capital Adequacy Ratio (CAR), DBP President and CEO Michael de Jesus, Department of Finance (DOF), Development Bank of the Philippines (DBP), Land Bank of the Philippines (LBP), Landbank President and CEO Lynette Ortiz, Ralph Recto

DEC

30

2024

Recto: PHP 6.326 trillion national budget for 2025 most powerful tool to deliver the biggest economic benefits to Filipinos, reaffirms DOF’s commitment to work hard in funding it

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

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TAG Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Bureau of Treasury (BTr), Department of Finance (DOF), General Appropriations Act (GAA) for 2025, government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), Medium Term Fiscal Program, National Climate Change Action Plan 2011-2028, Philippine Development Plan, President Ferdinand Marcos Jr, Ralph Recto

DEC

28

2024

Recto raised record-high non-tax revenues in 2024, collected more resources to improve the lives of Filipinos

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

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TAG Budget of Expenditures and Sources of Financing (BESF), Bureau of Treasury (BTr), Cebu-Mactan Bridge and Coastal Road Construction Project, Department of Finance (DOF), Department of Health (DOH), General Appropriations Act (GAA) of 2024, government-owned and controlled corporations (GOCCs), Medical Assistance to Indigent and Financially Incapacitated Patients, Metro Manila Subway Project, Mindanao Inclusive Agriculture Development Project, Ninoy Aquino International Airport (NAIA), NLEX Corporation, Panay-Guimaras-Negros Island Bridges, Philippine Deposit Insurance Corporation (PDIC), Philippine Health Insurance Corporation (PhilHealth), Privatization and Disposition of Government Assets, Privatization and Management Office (PMO), Privatization Council (PrC), Public Health Emergency Benefits and Allowances for Health Care and Non-Healthcare Workers, Public-Private Partnership (PPP), Ralph Recto, Road Network Development Project in Conflict-Affected Areas in Mindanao, SMC-SAP & Company Consortium

DEC

27

2024

BIR, BOC ramp up digitalization and strict enforcement initiatives in 2024, drive higher revenue collections

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

DEC

20

2024

DOF and DOE sign joint memorandum circular granting LGU tax exemptions to electric co-ops, empowering them to expand electricity access to all Filipinos

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

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TAG Association of Philippine Electric Cooperatives, Bureau of Local Government Finance (BLGF), Cooperative Development Authority (CDA), Department of Energy (DOE), Department of Finance (DOF), DOF Undersecretary Bayani Agabin, electric cooperatives, Energy Secretary Raphael Lotilla, League of Cities of the Philippines, Local Government Code, Local Government Units (LGUs), National Electrification Administration (NEA), Philippine Rural Electric Cooperatives, R.A. 10531 (An Act Strengthening the National Electrification Administration), R.A. 7160, Ralph Recto, Union of Local Authorities of the Philippines (ULAP)

DEC

19

2024

CREATE MORE is among PBBM’s biggest Christmas and New Year’s gifts to investors and the Filipino people

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

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