RalphRecto.Ph

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

23

2024

PBBM admin secures efficient and concessional financing in 2024 for the Build Better More program, various development projects

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

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TAG AI-based Flood Forecasting and Warning System in the Laoag River Basin, Artificial Intelligence (AI)-based systems in agriculture, Bataan-Cavite Interlink Bridge, Build Better More, Build Universal Healthcare (UHC) Program, Capacity Development of Public Utility Vehicles (PUV) in Metro Manila and its Adjoining Areas, Climate Change Action Program (CCAP) Subprogram 2, Dalton Pass East Alignment Road Project (DPEARP), DOF, Export-Import Bank of Korea, France, Infrastructure for Safer and Resilient Schools Project, Integrated Urban Climate Action for Lower-Carbon and Resilient Cities (Urban-Act) Project, Korea, Laguna Lakeshore Road Network Project, Maritime Safety Capability Improvement Project, Master Plan on Comprehensive Sewerage System Development for Metro Cebu of the Metropolitan Cebu Water District, Metro Manila Subway Project, New Dumaguete Airport Development Project, Official Development Assistance (ODA), Partnership for Peace and Development in Mindanao, Philippines' First and Second Digital Transformation Program, President Ferdinand Marcos Jr, Ralph Recto, Samar Pacific Coastal Road II Project, Second Sustainable Recovery Program, Sweden, Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities (VISTA)

DEC

18

2024

Recto: Signing of crucial agreements to jumpstart fruition of 5 PPP transport projects a monumental Christmas gift to Filipinos

PRESS RELEASE Finance Secretary Ralph G. Recto highlighted that the recent signing of crucial agreements to jumpstart the fruition of five Public-Private Partnership (PPP) transportation projects is a monumental gift to Filipinos this Christmas. Witnessed by President Ferdinand

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TAG Aboitiz Group President and CEO Sabin Aboitiz, Aboitiz InfraCapital Inc., Aboitiz InfraCapital President and CEO Cosette Canilao, Bohol Governor Erico Aumentado, Bohol-Panglao International Airport, Cebu Bus Rapid Transit, Cebu Governor Gwendolyn Garcia, Civil aeronautics Administration of the Philippines (CAAP) Director General Manuel Antonio Lara Tamayo, Department of Finance (DOF), Department of Transportation (DOTr), DOTr Secretary Jaime Bautista, Executive Secretary Lucas Bersamin, HJ Shipbuilding Corporation Representative Kook Il Jeon, IFC Regional Manager Thomas Lubeck, IFC VP Emmanuel Nyirinkindi, International Finance Corporation (IFC), Investment Coordination Committee (ICC), Korean Ambassador Lee Sang-hwa, National Economic Development Authority (NEDA) Board, NEDA Secretary Arsenio Balisacan, New Cebu International Container Ports, New Dumaguete and Siargao Airports, PPP Center Executive Director Cynthia Hernandez, President Ferdinand Marcos Jr, Public-Private Partnership (PPP), Ralph Recto, Special Assistant to the President Antonio Lagdameo Jr., Tourism Secretary Christina Frasco

DEC

16

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)

DEC

09

2024

Recto sees stronger economy in 2025 with the enactment of new laws that will boost the tourism industry and local spending, and enhance food security

PRESS RELEASE Finance Secretary Ralph G. Recto is optimistic about the Philippines’ economic prospects in 2025, fueled by the recent enactment of two key laws aimed at boosting the tourism industry and local spending as well as strengthening food security in the country.

OCT

09

2024

Recto receives highest Asia CEO Award for public sector, dedicates prestigious recognition to DOF family

PRESS RELEASE Finance Secretary Ralph G. Recto has been chosen as this year’s Lifetime Contributor Awardee for the Public Sector—the highest recognition of the Asia CEO Awards—and has dedicated the prestigious accolade to the Department of Finance (DOF) family for its great

SEP

13

2024

Recto: ADB’s new country partnership strategy reflects strong friendship and deep understanding of the PH’s development needs

PRESS RELEASE Finance Secretary and Asian Development Bank (ADB) Governor for the Philippines Ralph G. Recto welcomed the launching of the ADB’s new country partnership strategy for the Philippines, which reflects its longstanding friendship and deep understanding of t

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TAG ADB Philippine Country Director Pavit Ramachandran, ADB President Masatsugu Asakawa, Asian Development Bank (ADB), Bataan-Cavite Interlink Bridge, Climate Change Action Plan (CCAP), Country Partnership Strategy (CPS), DBM Secretary Amenah Pangandaman, DENR Secretary Ma. Antonia Yulo Loyzaga, Department of Finance (DOF), DepEd Secretary Sonny Angara, DPWH Secretary Manuel Bonoan, Executive Secretary Lucas Bersamin, Malolos-Clark Railway Project, NEDA Secretary Arsenio Balisacan, Official Development Assistance (ODA), President Ferdinand Marcos Jr, Ralph Recto, South Commuter Railway Project

AUG

29

2024

Recto: PH to set a gold standard for climate finance and action globally with new Loss and Damage Fund Board law

PRESS RELEASE Finance Secretary Ralph G. Recto has underscored that the Philippines is set to establish a gold standard for climate finance and action globally with the recent enactment of the Loss and Damage Fund (LDF) Board Act that enables its hosting of the Board. “The LDF

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TAG Department of Finance (DOF), LDF Board Act, Loss and Damage Fund (LDF), President Ferdinand Marcos Jr, Ralph Recto, World Bank (WB)

AUG

28

2024

Recto leads high-level meeting of Finance Ministers for climate action, urges peers to drive integrated solutions that bring climate resilience and poverty eradication together

PRESS RELEASE Finance Secretary Ralph G. Recto has urged his fellow Finance Ministers to drive integrated solutions that bring climate action and poverty eradication all together, stressing the need to balance economic development and climate resilience during a high-level

AUG

23

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

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