The appointment of new officials to the Cabinet is expected to further boost the government’s bid for fiscal management and stability, among others, ensuring economic growth.
This follows Malacanang’s announcement about former Finance Secretary Ralph Recto’s new position as Executive Secretary in lieu of former Secretary Lucas Bersamin, and Secretary Frederick Go, as new Department of Finance chief, from being the Special Assistant to the President for Investment and Economic Affairs.
The new appointments were made after President Ferdinand R. Marcos Jr. accepted the resignations of Bersamin and Department of Budget and Management (DBM) Secretary Amenah Pangandaman, who was replaced by DBM officer-in-charge Rolando Toledo.
Bersamin and Pangandaman resigned from their posts “out of delicadeza” after the offices they headed were mentioned in the ongoing investigation on alleged anomalies in government infrastructure projects, Palace Press Officer Claire Castro said Monday.
The Bases Conversion and Development Authority (BCDA), in a statement Tuesday, said Go’s “track record in investment promotion and economic policy gives the government a steady hand to strengthen fiscal management, reinforce investor confidence, and translate economic strategy into real gains for Filipino families.”
It said Go’s contributions to the passage of the Accelerated and Reformed Right-of-Way (ARROW) Act and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act have “improved the country’s investment climate, sped up approvals for major projects, expanded access to capital, and created conditions for more jobs, stronger industries, and more inclusive economic growth.”
“BCDA looks forward to working closely with Finance Secretary Go to transform idle US military bases and Metro Manila camps into productive districts that boost national and local economies, empower communities, and expand opportunities for more Filipinos,” it added.
The Federation of Philippine Industries (FPI), in a separate statement, said Go and Recto’s appointments “come at a crucial time for policy coherence, fiscal stability, and investor confidence.”
“FPI affirms its support for continuity and coordination across government agencies to sustain economic momentum,” it said.
The group also noted the appointment of new Bureau of Internal Revenue (BIR) Commissioner Charlito Martin Mendoza, who replaced former BIR chief Romeo Lumagui Jr.
“FPI stands ready to collaborate with the economic team and the BIR under Commissioner Mendoza to advance transparent policy, digitalization, and fair compliance. These pillars are vital to restoring business confidence, driving enterprise growth, and building a resilient economy. FPI remains committed to constructive engagement that supports inclusive industrial development and strengthens public trust,” it said.
