Malacañang has denied circulating rumors claiming that Department of Finance (DOF) Secretary Ralph Recto has stepped down from his post.
In a message shared by Palace Press Officer Undersecretary Atty. Claire Castro, she made it clear that the claims were baseless.
“Not true,” said Castro.
President Ferdinand “Bongbong” Marcos Jr. appointed Recto as Finance Secretary in January 2024, while he was serving as Congressman of Batangas’ 6th District in the House of Representatives.
In May 2025, Recto submitted a courtesy resignation following the President’s directive for all Cabinet secretaries to do the same—a move that Marcos immediately rejected.
The Finance chief recently made headlines after confirming that tax payment growth had slowed, attributing it to the widespread problem of corruption.
“Yes. nararamdaman na ng BIR ‘yan,” Recto stated. “Medyo ‘yong growth rate ng collection nila, nababawasan ng kaunti. But so far, manageable naman lahat,” he added.