Ceremonial Signing of the Loan Agreements for the Dalton Pass East Alignment Road Project (I) and the Metro Manila Subway Project Phase 1 (III)

Ralph G. Recto Secretary of Finance March 26, 2024 Japan International Cooperation Agency Chief Representative Takema Sakamoto; Fellow workers in the government; ladies and gentlemen: Good afternoon. First of all, I thank JICA for its unceasing support to the Philippines through the delivery of infrastructure projects that are safe, resilient, and responsive to the needs of the Filipino people. Today, we are taking this strong partnership to...

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Recto secures financing agreements for 2 big-ticket infra projects with JICA to drive inclusive growth for Filipinos

Recto secures financing agreements for 2 big-ticket infra projects with JICA to drive inclusive growth for Filipinos

Finance Secretary Ralph G. Recto has secured financing agreements with the Japan International Cooperation Agency (JICA) for two big-ticket infrastructure projects under President Ferdinand R. Marcos, Jr.’s Build Better More program that will help drive inclusive growth for all Filipinos. “Infrastructure investments have the highest multiplier effect on the economy. As for every peso invested in new infrastructure, two pesos and thirty...

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DOF pushes for excise tax on single-use plastic bags, a win-win solution to address climate change

The Department of Finance (DOF) presented to industry stakeholders a win-win solution to address climate change with its proposal to impose an excise tax on single-use plastic bags (SUPs). The proposed measure seeks to curb the high volume of mismanaged plastics in the country and serves as the Philippines’ contribution to the global movement of reducing pollution and adopting more sustainable practices while raising revenues to spur economic...

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Recto: PPP Code IRR to open floodgates for non-stop influx of strategic, high-quality investments benefiting all Filipinos

Finance Secretary Ralph G. Recto has welcomed the recent signing of the Public-Private Partnership (PPP) Code implementing rules and regulations (IRR) and underscored that it will open the floodgates for a non-stop influx of strategic and high-quality investments that will benefit all Filipinos. “The signing came at a very opportune time when the Philippine economy is in robust shape to welcome investors. We are leaving no opportunity untapped...

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Recto to econ journalists: Fairness is all I ask, nothing more, nothing less

Finance Secretary Ralph G. Recto called upon economic journalists to uphold the principle of fairness in their reporting of economic and fiscal affairs, recognizing their key role in shaping public understanding and better policymaking. “Call us out if we are wrong, and on times we have done something good, write about our wins––just the facts, no add-on praises needed. Because if you do your work, you help us with ours, as the feedback...

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Opening Remarks
Induction Ceremony of 2024
Economic Journalists Association of the Philippines (EJAP) Officers

Ralph G. Recto Secretary of Finance March 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 my remarks of the familiar lines from the boilerplate PRs that our communication team regularly blasts to you. Because to repeat them tonight is like preaching to the...

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Recto optimistic on WEF’s bullishness on PH following the successful Country Roundtable in Manila

Recto optimistic on WEF’s bullishness on PH following the successful Country Roundtable in Manila

Finance Secretary Ralph G. Recto has expressed optimism on the World Economic Forum’s (WEF) bullishness on the Philippines which forecasts the country to be well on its way to becoming a USD 2-trillion economy in the coming decade during its Country Roundtable in Manila on March 19, 2024. “I am confident that throughout the roundtable, albeit short, we were able to send a clear message: the Philippine economy is on its way to becoming a...

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Keynote Speech
Manila Overseas Press Club Finance Night

Ralph G. Recto Secretary of Finance March 20, 2024 Mr. Tony Lopez, Chairman of the Metro Manila Overseas Press Club; distinguished guests; friends in the media: good evening. Thank you for the opportunity to share with you the promising prospects of the Philippine economy and how we intend to turn this optimism into a daily reality for every Filipino. As members of the press, your job goes beyond just reporting the numbers. You are the...

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Recto to press members: Partner with us in communicating the complete picture of PH’s promising economic story

Recto to press members: Partner with us in communicating the complete picture of PH’s promising economic story

Finance Secretary Ralph G. Recto has urged the members of the press to partner with the Department of Finance (DOF) in communicating to the public, in understandable terms, the complete picture of the Philippines’ promising economic story and the reasons behind the government’s optimism. “The DOF’s task of maintaining fiscal stability often involves wading through complex statistics and jargon and making decisions that might not always...

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Welcome Remarks
World Economic Forum (WEF)
Country Roundtable on the Philippines
Dinner Reception

Ralph G. Recto Secretary of Finance March 18, 2024 World Economic Forum President Børge Brende; Speaker Martin Romualdez; Secretary Arsi Balisacan; Secretary Go; Secretary Lotilla; Governor Eli; fellow workers in government; friends and partners from the private sector all over the world; esteemed guests: good evening. On behalf of the Philippine Government, I extend a warm welcome to all of our esteemed guests here tonight. Thank you for...

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Department of Finance