RalphRecto.Ph

DEC

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

2024

PBBM admin achieves multiple economic milestones in 2024, drives PH again as one of the fastest-growing economies in Asia

PRESS RELEASE The Marcos Jr. administration has made 2024 a banner year for economic achievements and has once again successfully positioned the Philippines as among the fastest-growing economies in Asia despite global challenges such as geopolitical tensions. “2024 is a year of

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TAG Amendments to the Agricultural Tariffication Act, ASEAN, Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), China, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), Development Budget Coordination Committee (DBCC), E.O. No. 62, Ease of Paying Taxes (EOPT) Act, Excise Tax on Single-Use Plastic Bags, government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), gross national income (GNI), Indonesia, Institute of International Finance (IIF), Macro Poverty Outlook for the Philippines, Malaysia, Medium Term Fiscal Program, Motor Road User's Tax, Package 4 of the Comprehensive Tax Reform Program, President Ferdinand Marcos Jr, Public-Private Partnership (PPP) Code, R&I, Ralph Recto, Rationalization of the Fiscal Mining Regime, Real Property Valuation and Assessment Reform Act. (RPVARA), S&P, Singapore, Value-added Tax (VAT) on Non-Resident, VAT Refund Mechanism for Non-Resident Tourists Act, World Bank (WB)

AUG

2024

Moody’s affirmation of PH credit rating reflects strong confidence in the country’s high medium-term growth following biz-friendly reforms and fiscal consolidation

PRESS RELEASE Finance Secretary Ralph G. Recto has welcomed Moody’s recent affirmation of the Philippines’ Baa2 rating with Stable outlook, which reflects strong confidence in the country’s high medium-term growth potential due to the enactment of investment-friendly

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TAG Build Better More, Business Process Outsourcing (BPO), CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), foreign direct investment )FDI), Gross Domestic Product (GDP), Medium-Term Fiscal Framework (MTFF), Moody's, President Ferdinand Marcos Jr, Ralph Recto

AUG

2024

Recto: Use of PhilHealth’s sleeping funds will do no harm to its members nor on its plans to expand benefit packages this year

PRESS RELEASE Finance Secretary Ralph G. Recto assured the public that the use of the Philippine Health Insurance Corporation (PhilHealth)’s sleeping funds for the government’s priority programs and projects will do no harm to its members nor on its plans to expand its benefit

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TAG Department of Finance (DOF), General Appropriations Act (GAA), government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), PhilHealth, Ralph Recto, Unprogrammed Appropriations (UA)

AUG

2024

Recto: PH on track to meet its fiscal program for 2024 on the back of robust mid-year revenue effort and manageable deficit level

PRESS RELEASE Finance Secretary Ralph G. Recto has underscored that the Philippines is on track to meet its fiscal program for 2024 on the back of the government’s robust revenue effort and manageable deficit level during the first half of the year. “So far, we are on track

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TAG Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Department of Finance (DOF), Government Owned and Controlled Corporations (GOCC), Gross Domestic Product (GDP), Ralph Recto, senate of the philippines

AUG

2024

Recto: PH continues to lead ASEAN with strong 6.3% Q2 GDP growth driven by robust construction and investments as Build Better More proceeds in full steam

PRESS RELEASE August 8, 2024 Finance Secretary Ralph G. Recto has underscored that the Philippine economy is once again among the frontrunners in the ASEAN region, posting a strong year-on-year (yoy) growth of 6.3% in the second quarter of 2024 driven by robust construction and

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TAG Build Better More, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), Development Budget Coordination Committee (DBCC), Gross Domestic Product (GDP), Philippine economy, President Ferdinand Marcos Jr, Public-Private Partnership Code (PPP Code), Ralph Recto, unemployment

JUL

2024

Keynote Speech of Finance Secretary Ralph G. Recto during the EJAP-SMC Economic Forum 2024

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

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TAG Bagong Pilipinas, Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Department of Finance (DOF), Economic Journalists Association of the Philippines (EJAP), Government Owned and Controlled Corporations (GOCC), Gross Domestic Product (GDP), Public-Private Partnership Code (PPP Code), Ralph Recto, Rice Competitiveness Enhancement Fund (RCEF), Secretary Frederick Go

JUL

2024

Recto: Gov’t to do everything within its power to ensure that the next generation of Filipinos does not inherit today’s challenges

PRESS RELEASE Finance Secretary Ralph G. Recto has told economic journalists that the government will exhaust its power to ensure that the next generations of Filipinos will not inherit the same challenges of today, and has called on them to continue fair and insightful reporting

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TAG Bagong Pilipinas, Bangko Sentral ng Pilipinas (BSP), BSP Governor Eli Remolona, Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), DBM Undersecretary Joselito Basilio, Deparment of Budget and Management (DBM), Department of Finance (DOF), Economic Journalists Association of the Philippines (EJAP), Gross Domestic Product (GDP), National Economic Development Authority (NEDA), NEDA Secretary Arsenio Balisacan, Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), Ralph Recto, Rice Competitiveness Enhancement Fund (RCEF), San Miguel Corporation (SMC), Secretary Frederick Go

JUN

2024

Recto: Fitch’s affirmation of the PH at ‘BBB’ with Stable outlook signals strong medium-term growth momentum, a big win for all Filipinos

PRESS RELEASE Finance Secretary Ralph G. Recto has welcomed Fitch Ratings’ recent affirmation of the Philippines’ BBB credit rating with stable outlook, which signals strong growth momentum in the medium term and a big win for ordinary Filipinos as it translates to more

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TAG debt-to-GDP, Department of Finance (DOF), fiscal deficit-to-GDP, Fitch Ratings, Gross Domestic Product (GDP), President Ferdinand Marcos Jr, Ralph Recto

MAY

2024

Recto welcomes UNSGSA Queen Máxima’s support for DOF to widen financial inclusion and ensure financial protection among Filipinos by digitizing gov’t payments and keeping financial services affordable

PRESS RELEASE Finance Secretary Ralph G. Recto has welcomed the support of Her Majesty Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) for the Department of Finance (DOF) to accelerate the

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TAG Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Department of Finance (DOF), Department of Information and Communications Technology (DICT), Ease of Paying Taxes (EOPT) Act, Free Public WiFi Act, Gross Domestic Product (GDP), Insurance Commission (IC), Micro- Small and Medium Enterprises (MSMEs), President Ferdinand Marcos Jr, Queen Maxima of the Netherlands, Ralph Recto, United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA), World Bank (WB)

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