File photo of finance secretary Ralph Recto from PNA
In a bid to calm investors otherwise disturbed by the ongoing corruption probe of top government officials, including legislators, finance secretary Ralph Recto has vowed to implement fiscal disciple as he maintained that the Philippines remains on solid economic footing and good governance.
In a statement, President Ferdinand ‘Bongbong’ Marcos Jr. (PBBM)’s finance chief disclosed that the administration “is more resolute than ever” in addressing concerns over corruption despite allegations made by former Ako Bicol party-list representative Zaldy Co against the chief executive.
Recto opined that as trust is the ‘lifeblood’ of the economy and keeps investments coming in, the Marcos government is accelerating a catch-up spending plan and tightening controls on disbursements, as he reiterated that cases will be filed against implicated officials.
“We are not blind to the challenges nor are we shaken by them. What you see today is not a leadership crisis, but a government reforming itself from within, led by a President who chose to be the whistleblower, not the apologist, of corruption,” the former senator pointed out.
Last August, the President had bared that 20 percent of the total ₱545-billion budget for flood control projects went to only 15 contractors, which he described as a “disturbing assessment.” Marcos Jr.,however, vowed to ensure that those involved in anomalous projects would be held accountable, triggering both the Senate and House of Representatives to launch their own probes into the issue.
In the meantime, Recto disclosed that the government will be implementing what her termed as a ‘comprehensive’ catch-up plan to align disbursements with national priorities.
He called on Congress to pass a 2026 national budget that reflects priorities and reform agenda.
“The national budget is the most powerful lever of our growth story — and we will wield it responsibly. These are your hard-earned money entrusted to us, and we will make sure to protect it and spend on programs and projects that will benefit each and every one of you,” the finance chief pointed out.
“Essential and targeted public services will continue uninterrupted. High-impact infrastructure projects, including school buildings, will proceed. Our Official Development Assistance projects will continue and even accelerate,” he added.
Recto is also assuring the public that the government is on track with its fiscal consolidated plan to gradually bring down the deficit and debt while creating more jobs, increasing income and lifting more Filipinos out of poverty.
“Let there be no doubt: This is a government that cleanses itself from within, honors your trust, and safeguards the future of every Filipino,” he stressed.
“This is a government that listens, acts decisively, and puts the national interest above all else. And this is a government that will deliver on its promises—without fear, without favor, without hesitation,” he asserted.