Outgoing Finance Secretary Benjamin Diokno聽 (File photo from Joseph Vidal/Senate PRIB)
MANILA, Philippines 鈥� Outgoing Finance Secretary Benjamin Dioko is 鈥減leased鈥� to hand over his post to Batangas Sixth District Representative Ralph Recto.
Recto is set to assume the post of Diokno later on Friday afternoon when the lawmaker will take his oath before President Ferdinand 鈥淏ongbong鈥� Marcos Jr. in Malaca帽ang.
鈥淚 am pleased to announce that I will be turning over my seat as Finance Secretary to Deputy Speaker Ralph Recto,鈥� said Diokno in a statement on Friday.
Diokno鈥檚 term as Department of Finance (DOF) Secretary lasted for nearly two years.
During his term, he led the country鈥檚 economic team in creating the Philippines鈥� Medium-Term Fiscal Framework.
DOF said the framework is the government鈥檚 program on fiscal consolidation.
Reports on Diokno resigning as DOF secretary circulated as early as 2022.
In November of that year, he denied the rumors.
Speculations that Recto would take over Diokno鈥檚 job spread when the lawmaker accompanied the President during a trip to the United States in November 2023.
According to Diokno, he is leaving the department beaming with pride.
鈥淚 am proud knowing that I will be leaving my post at a time when the Philippine economy, in general, and the DOF, in particular, are in a better state of affairs than when I inherited them,鈥� the outgoing Finance secretary recalled with satisfaction.