Recto is new Executive Secretary; Go heads to DOF in major Marcos Cabinet shakeup

National

IN A surprising turn of events, President Ferdinand “Bongbong” Marcos Jr. has accepted the resignations of key Cabinet officials and shuffled top posts.

Finance Sec. Ralph Recto has been appointed the new Executive Secretary while Special Assistant for Investment and Economic Affairs Frederick “Go” has been tapped to become the next Finance Secretary, replacing Lucas Bersamin and Amenah Pangandaman, respectively.

According to the Palace, both stepped down “out of delicadeza,” after their departments were named in an ongoing investigation into alleged anomalies in flood-control projects.

Malacañang’s press officer, Undersecretary Claire Castro, said Recto was chosen for his “long record in economic policymaking, fiscal legislation, and national planning,” making him well-suited to coordinate the day-to-day operations of government and ensure implementation of major programs.

Go, on the other hand, is being elevated from his current role as Special Assistant to the President for Investment and Economic Affairs. Castro noted his track record in advancing investments and building investor confidence, skills that she says will be vital as he takes over the Department of Finance.

To fill the gap at the Budget Department, Undersecretary Rolando U. Toledo has been named officer-in-charge of the Department of Budget and Management.

In a report by Philstar, Castro said Toledo’s “technical expertise in national budgeting and fiscal transparency” will help maintain continuity as the government prepares for the 2026 budget.

Meanwhile, Recto has pushed back against earlier rumors that he was set to become Executive Secretary. In a recent interview, he said that no formal offer had been made and he was not part of any cabinet shake-up meetings, suggesting the announcement may have taken him by surprise.

Pangandaman expressed gratitude as she stepped down. In her resignation statement, she emphasized that leaving was the “most honorable path” so that the administration could move forward with “clarity and unity.”(Victoria Diana, USJ-R Comm Intern)