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Ralph Recto

Ralph Gonzalez Recto (born January 11, 1964) is a Filipino politician serving as the 33rd Secretary of Finance since January 2024, under President Ferdinand Marcos Jr., and as a member of the Monetary Board of the . A member of the , he previously held the position of Director-General of the from 2008 to 2010 under President , where he contributed to the formulation of the Economic Resiliency Plan amid the global financial crisis. Earlier in his career, Recto represented Batangas's 4th from 1992 to 2001 and later its 6th starting in 2022, while serving three terms in the from 2001 to 2019, including as in the 17th and 18th Congresses and chairperson of the Committee on Ways and Means. ![Sen Ralph Recto.jpg][float-right] Recto, a grandson of the nationalist statesman Claro M. Recto, has focused his legislative efforts on economic policy, consumer protection, and fiscal reforms, authoring or co-authoring over 100 bills enacted into law, such as the Universal Health Care Act, the National Identification System, the Bayanihan to Recover as One Act, and the Enhanced Basic Education Act of 2013 establishing K-12 education. During the COVID-19 pandemic, as a senator, he prioritized funding for health programs, social amelioration, and economic recovery initiatives. In his current role at the Department of Finance, Recto has emphasized revenue mobilization to support national development needs, including directing the Bureau of Internal Revenue to pursue tax collection amid debates over value-added tax adjustments and public fund transfers. His tenure has drawn scrutiny over matters like the handling of PhilHealth funds and fiscal policy decisions, though Malacañang has affirmed his continued leadership. Educated at De La Salle University with a bachelor's in commerce and business management, Recto holds advanced coursework in economics and public administration from institutions including the University of Asia and the Pacific and the University of the Philippines.

Background

Early life

Ralph Gonzalez Recto was born on January 11, 1964, in , . He was the second of three children born to attorney Rafael Reyes Recto, who served as an Assemblyman in the Regular Batasang Pambansa, and Carmen Gonzalez Recto. Recto descends from a politically influential family; his paternal grandfather, , was a prominent nationalist figure who held multiple terms as a Philippine Senator and advocated for national post-World War II.

Education

Recto completed his elementary education at the in , graduating in 1975. He then attended De La Salle Greenhills in for secondary education, finishing in 1982. For tertiary education, Recto earned a in Commerce with a major in Business Management from in in 1989, though investigative reports indicate the degree was conferred through the affiliated De La Salle-College of Saint Benilde. In 1990, he enrolled in the in program at the but did not complete it. He also accumulated masteral units in at the University of Asia and the Pacific without obtaining the degree.

Political career

House of Representatives: 1992–2001

Recto was first elected to the in the May 1992 general elections as the representative for Batangas's 4th , securing the seat for the 9th at the age of 28 and becoming the youngest member elected to that body. He chaired the Subcommittee on Countryside Development during this term. Reelected in May 1995 for the 10th with 98% of the vote—achieving an unprecedented sweep of all precincts, barangays, municipalities, and the city of Lipa—Recto chaired the Special Committee on Poverty Alleviation, as well as the Subcommittees on and on and Opportunities. His legislative priorities emphasized and , contributing to the passage of the Special Act (Republic Act No. 7916) in 1995, which established incentives for export-oriented industries. In the 11th Congress (1998–2001), following his May 1998 reelection under similarly dominant margins, Recto chaired the Committee on Economic Affairs. Key enactments from his tenure included the Social Reform and Poverty Alleviation Act (Republic Act No. 8425) in 1997, aimed at integrating marginalized sectors into ; amendments to the Law; the Retail Trade Liberalization Act (Republic Act No. 8762) in 2000, which opened the sector to foreign ; and the Comprehensive Act (Republic Act No. 8424) in 1997, which simplified tax structures and broadened the base to support fiscal stability. These measures reflected a focus on , attraction, and equitable growth, with Recto's authored or co-authored bills predominantly addressing economic concerns.

Senate: 2001–2007

Ralph Recto was elected to the Senate of the Philippines in the May 2001 elections as part of the Lakas-Christian Muslim Democrats (Lakas-CMD) party, securing one of the 12 contested seats and beginning his term on June 30, 2001. During the 12th Congress (2001–2004), he served as Deputy Majority Floor Leader and was appointed to the Commission on Appointments. He chaired the Committee on Ways and Means, focusing on taxation and revenue policies, and the Committee on Trade and Industry. Recto also chaired the Committee on Accounts and vice-chaired committees on Finance and Social Justice, Welfare, and Rural Development. Recto was re-elected in the 2004 Senate elections, continuing his service into the 13th (2004–2007). In this period, he retained chairmanship of the and additionally chaired the Committee on and the Subcommittee on Basic and and Culture under the Committee on Education, Arts, and Culture. He co-chaired the Committee on the Comprehensive Program. As a member of the , he participated in investigations into government expenditures and anomalies. Recto authored or co-authored several key pieces of legislation during his term, emphasizing economic and fiscal reforms. Notable among these was Republic Act No. 9337, the Expanded (EVAT) Law of 2005, which he principally sponsored as Ways and Means chair; it raised the VAT rate from 10% to 12% and expanded its coverage to address the government's fiscal deficit, though it drew public criticism for increasing consumer costs. He also sponsored RA 9182, the Special Purpose Vehicle , facilitating the sale of non-performing loans to improve banking sector . Other measures included RA 9341 extending rent control for residential units until 2007, RA 9367 promoting the use of biofuels, amendments to the National Internal Revenue Code rationalizing taxes on automobiles, , and , a general program, and the Barangay Microbusiness Enterprises to support small businesses. These initiatives aimed to boost revenue collection and economic activity amid post-Asian recovery.

National Economic and Development Authority: 2008–2009

Ralph Recto was appointed Director-General of the (NEDA) and Socioeconomic Planning on July 23, 2008, by President , following his unsuccessful bid for reelection to the in 2007. He assumed the position on July 28, 2008, succeeding Ralph G. Recto in leading the agency's mandate to formulate medium-term and perspective socioeconomic development plans, coordinate , and monitor implementation. During his tenure, which spanned the onset of the 2008 global financial crisis, Recto focused on stabilizing the Philippine economy through the Economic Resiliency Plan (ERP), a PHP 300 billion stimulus package approved in late 2008 to pump-prime growth via increased public spending on infrastructure, social services, and job creation programs. He led the crafting and monitoring of the ERP, emphasizing its role in countering external shocks while defending it against critics who argued it risked fiscal deficits and lacked transparency in funding from national budgets and private investments. The plan contributed to the Philippines achieving 1.1% GDP growth in 2009 amid regional contractions, with Recto highlighting improved second-quarter performance over the first and inflation dropping to 3.0-5.0% by early 2009. Recto also proposed the Reloading Economic Acceleration Plan (REAP) to extend gains into subsequent years, alongside advocating for a transparent oil pricing formula to shield consumers from volatility and streamlined processes for government project execution to enhance efficiency. These efforts aligned with NEDA's coordination of inter-agency responses, including reviews of growth targets after global events like the U.S. rejections. He resigned on August 15, 2009, to pursue another candidacy in 2010.

Senate: 2010–2016

Ralph Recto served as a senator during the 15th Congress from 2010 to 2013 and the 16th Congress from 2013 to 2016, following his election in the May 10, 2010, Philippine Senate election as part of the coalition supporting President Benigno Aquino III. In the 15th Congress, he chaired the Committee on Ways and Means, overseeing tax and revenue legislation, and the Committee on Government Corporations and Public Enterprises, while also serving as vice-chairman of the Committees on Finance and Public Services, and as a member of the Commission on Appointments and the Blue Ribbon Committee. During this period, Recto played a key role in fiscal reforms, including sponsoring versions of the reform package aimed at increasing taxes on and products to fund programs, though his initial committee report proposed a more gradual implementation that drew criticism from advocates for potentially reducing projected revenues from 33 billion to 25 billion pesos annually. He resigned as Ways and Means chairman in October 2012 amid the controversy, paving the way for the passage of Republic Act No. 10351, the Reform Law of 2012, which ultimately raised over 200 billion pesos in incremental revenues by 2016 for and anti-smoking initiatives. Recto co-authored or sponsored several laws enhancing social services, such as Republic Act No. 9994, the Expanded Senior Citizens Act of 2010, which provided benefits including a 20% discount on medicines and mandatory PhilHealth coverage for indigent seniors, and later expansions like Republic Act No. 10645 in 2014 mandating PhilHealth for all seniors aged 60 and above without indigency requirements. He also contributed to Republic Act No. 10157 establishing universal education in 2012 and Republic Act No. 10533 instituting the K-12 program in 2013, extending to 12 years. In the 16th Congress, Recto was elected President Pro Tempore on July 22, 2013, granting him ex-officio membership in all standing committees, and he chaired the Committee on Science and Technology while vice-chairing the Committee on Finance. Notable legislation included co-authorship of Republic Act No. 10868, the Centenarians Act of 2016, providing financial assistance and benefits to Filipinos reaching 100 years old, and efforts to increase the tax-exempt ceiling for 13th-month pay and other bonuses to 90,000 pesos via Republic Act No. 10653 in 2015, aimed at boosting amid . His committee roles facilitated oversight on public expenditures and economic policies, contributing to measures like the modernization of the and extensions for agricultural funds.

Senate: 2016–2022

Recto was re-elected to the Senate in the May 9, 2016, election as part of the Koalisyon ng Daang Matuwid coalition, securing the eleventh position among the winning candidates. Upon the convening of the 17th Congress on July 25, 2016, Recto was nominated for Senate President but lost to Aquilino Pimentel III, automatically assuming the role of Minority Floor Leader, which he held until February 27, 2017, when Franklin Drilon succeeded him. During the 17th Congress, Recto served as principal author of Senate Bill No. 1304, which became Republic Act No. 10931, the Universal Access to Quality Tertiary Education Act, signed into law on August 3, 2017, providing full tuition subsidies for students in state universities and colleges. He also co-authored Republic Act No. 11223, the Universal Health Care Act, enacted on March 4, 2019, to expand health coverage through mandatory PhilHealth contributions and integrated services. In September 2018, Recto left the Liberal Party alongside his wife, Representative Vilma Santos-Recto, to join the Nacionalista Party, aligning more closely with the administration of President Rodrigo Duterte. In the 18th Congress, which convened on July 22, 2019, Recto was elected President pro tempore, granting him ex-officio membership in all standing committees and a seat on the . In this capacity, he contributed to legislative oversight, including the approval of key appointments and budget deliberations. Among the laws he authored during this period was Republic Act No. 11590, imposing taxes on Philippine offshore gaming operators (POGOs), signed on March 26, 2021, to regulate the industry and generate revenue. He also sponsored Republic Act No. 11466, the Salary Standardization Law V, effective January 1, 2020, adjusting compensation for government employees to address inflation and retention issues. Recto's term concluded on June 30, 2022, after which he did not seek re-election to the .

House of Representatives: 2022–2024

Following the expiration of his third Senate term due to term limits, Recto sought a return to the House of Representatives in the 2022 general elections, running unopposed for Batangas's 6th congressional district and securing victory with 235,759 votes. He succeeded his wife, Vilma Santos-Recto, who opted not to seek reelection after serving three consecutive terms. Recto assumed office on June 30, 2022, as part of the 19th Congress. On July 27, 2022, Recto was elected as one of the Deputy Speakers of the House, a position he held under Speaker , serving alongside several others until January 12, 2024. In this role, he represented district interests, particularly advocating for allocations in national budgets. During his tenure, Recto filed 97 House bills and 27 resolutions, focusing on economic reforms, taxation simplification, and support for micro, small, and medium enterprises (MSMEs). Among his legislative initiatives, Recto was a principal author of House Bill provisions that contributed to Republic Act No. 11976, the Ease of Paying Act, signed into law on January 5, 2024, which introduced administrative reforms to streamline tax processes and enhance . Other filed measures included proposals for a National Employment Program Act and a Simplified System for MSMEs. Recto's House service concluded on January 12, 2024, when he resigned following his appointment and oath-taking as Secretary of Finance by President Ferdinand Marcos Jr., replacing .

Secretary of Finance: 2024–present

President Ferdinand Marcos Jr. appointed Ralph Recto as Secretary of Finance on January 11, 2024, replacing , with Recto taking his oath of office the following day at . His appointment received confirmation from the on March 13, 2024. Upon assuming the role, Recto outlined priorities centered on enhancing economic resiliency through fiscal discipline, prudent debt management, and efficient resource allocation to support public investments. Under Recto's leadership, the Department of Finance achieved record-high non-tax revenues in 2024, surpassing targets and enabling expanded funding for government projects and programs aimed at improving public welfare. The stayed on course to meet its 2024 fiscal program, with the fiscal deficit remaining manageable at levels consistent with the recalibrated Medium-Term Fiscal Framework (MTFF), which emphasizes sustainable growth and expenditure control. Average inflation eased to 3.2% for the year, reflecting effective monetary and fiscal coordination, while affirmed the country's investment-grade and upgraded its outlook, citing confidence in ongoing economic and fiscal policies. Recto defended the accumulation of national debt as a strategic asset financing infrastructure and social programs, while opposing proposals to lower the (VAT), arguing that the P1.39 trillion in 2025 VAT collections are essential for covering nine months of personnel, , and premium obligations. Internationally, his tenure saw the Philippines accede to the OECD's Convention on Mutual Administrative Assistance in Tax Matters, enhancing global tax cooperation and revenue mobilization efforts. Looking ahead, Recto expressed optimism for 2025 economic strengthening, driven by legislative measures boosting , local consumption, and , alongside advocacy for international financial reforms during G-24 meetings.

Policy positions and legislative contributions

Economic and fiscal views

Recto has consistently advocated for investments-led economic growth coupled with fiscal discipline to achieve inclusive prosperity in the Philippines. As Finance Secretary since 2024, he has outlined targets for GDP expansion of 6.0%-7.0% in 2024, rising to 6.5%-7.5% in 2025 and 6.5%-8.0% through 2028, emphasizing regulatory reforms, business cost reductions, and incentives under the proposed CREATE MORE Act to attract capital-intensive investments and generate employment. He has prioritized public-private partnerships (PPPs), including enactment of the PPP Code to accelerate infrastructure projects, alongside securing foreign loans such as JPY 150 billion (approximately PHP 55 billion) from JICA for the Metro Manila Subway. These measures aim to leverage the country's demographic dividend, with the working-age population projected to grow 15% from 2025 to 2035, thereby boosting GDP per capita and foreign direct investment. On taxation, Recto has a record of supporting revenue-enhancing reforms without introducing overly burdensome new levies. During his Senate tenure, he authored the Expanded Value-Added Tax (EVAT) Law of 2005, which raised the VAT rate from 10% to 12% and broadened its coverage to sectors like fuel, power, and telecommunications, generating fiscal space for public spending despite public backlash. More recently, he sponsored the Tax Reform for Acceleration and Inclusion (TRAIN) Act, which restructured personal income taxes and excise duties to fund social programs like universal healthcare while aiming to lower the effective tax burden on lower earners. In his current role, Recto opposes proposals to reduce the VAT rate, warning that slashing it from 12% would forfeit PHP 1.39 trillion in 2025 collections—enough to cover nine months of government payroll, pensions, and premiums—potentially increasing borrowing needs and risking credit rating downgrades. Instead, he promotes "smarter" tax policies, including enhanced administration by the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC), which collected PHP 591.8 billion and PHP 218.9 billion respectively in Q1 2024, alongside refinements like VAT on digital services and potential increases in tax-free allowances to ease household burdens without revenue shortfalls. Recto's fiscal views stress prudent spending and to support long-term stability. He targets narrowing the from 5.6% of GDP in 2024 to 3.7% by 2028, with the declining from 60.3% to 55.9% over the same period, achieved through a 75:25 domestic-to-foreign borrowing mix to minimize risks. To mobilize non-tax , he has directed government-owned and controlled corporations (GOCCs) to remit 75% of dividends (PHP 39.8 billion by April 2024) for and initiatives, while scrutinizing budgets to eliminate waste and align expenditures with capacity. Recto views national as an "asset" when directed toward productive investments, defending its rise as necessary for public goods amid growth pressures, but cautions against fiscal slippage from or inefficient outlays that could erode investor confidence and stall upgrades. His approach integrates private sector input via bodies like the Private Sector Advisory Council to refine policies, such as lowering the stock transaction tax to 0.1% and investing in digital to sustain momentum toward upper-middle-income status.

Key legislative initiatives and oversight roles

Recto chaired the on Ways and Means in the 12th, 13th, and 15th Congresses, where he directed deliberations on , reforms, and fiscal measures essential to . He also led the on Government Corporations and Public Enterprises in the 15th Congress, providing oversight on state-owned enterprises' operations and accountability. In the 16th to 18th Congresses, as , he served as a principal deputy to the Senate President and ex-officio member of all standing committees, influencing legislative priorities across sectors. These roles positioned him to scrutinize executive spending and advocate for revenue-enhancing policies amid persistent budget deficits. Recto principally authored the Tax Reform for Acceleration and Inclusion (TRAIN) Act (Republic Act No. 10963), signed into law on December 19, 2017, which restructured tax brackets—reducing rates for lower earners while imposing taxes on sweetened beverages, , and products—to generate funds for under the Build, Build, Build program. Earlier, he sponsored the Reformed Value-Added Tax (RVAT) Law (RA 9337) in May 2005, expanding the VAT base, raising the rate from 10% to 12%, and allowing input tax credits to broaden fiscal capacity, though it faced public backlash for increasing consumer costs. In health and , Recto was the principal author of the Universal Health Care Act (RA 11223), enacted on March 4, 2019, mandating automatic PhilHealth enrollment for all and allocating automatic appropriations to achieve universal coverage by improving access to and reducing out-of-pocket expenses. He also authored RA 10645 in 2015, extending PhilHealth benefits to all senior citizens regardless of income, covering hospitalization and outpatient services. For education, Recto co-authored the Enhanced Basic Education Act of 2013 (RA 10533), implementing the K-12 program to extend basic schooling to 12 years, aligning with international standards and enhancing employability. He principally sponsored the Universal Access to Quality Tertiary Education Act (RA 10931), effective August 3, 2017, providing free tuition in state universities and colleges while introducing student loans and subsidies for private institutions. Recto co-authored emergency measures during the , including the Bayanihan to Heal as One Act (RA 11469) and Bayanihan to Recover as One Act (RA 11494), both passed in 2020, which granted the president extraordinary powers to reallocate funds, procure supplies, and implement social amelioration programs totaling over ₱1 trillion. Additionally, he authored the Department of Information and Communications Technology Act (RA 10844) in 2016, establishing a dedicated to streamline digital infrastructure and broadband access nationwide.

Criticisms and controversies

Political alliances and opportunism claims

Recto entered national politics as a representative of Batangas's 4th district from 1992 to 2001, initially affiliated with the (LDP), which later merged into broader coalitions. He won a seat in 2001 under the Lakas-Christian Muslim Democrats (Lakas-CMD), aligning with the administration of President . After serving one term until 2007, Recto ran for re-election in 2007 still under Lakas-CMD but placed 13th, failing to secure a seat. In November 2009, Recto switched to the () ahead of the 2010 elections, a move that positioned him with the opposition coalition challenging Arroyo's declining popularity. He attributed the shift to urging from constituents amid local rivalries, particularly with the family of Governor Vicente Antonio Marcos Mandanas, rather than national opportunism. Critics at the time viewed such transitions as pragmatic adaptations to electoral prospects, with political analyst Ronald Holmes noting the ease of "balimbing" () behavior in Philippine politics amid fluid alliances. Recto won a Senate seat in 2010 under the banner, securing re-elections in 2013 and 2016 as part of the successful Aquino administration coalition. By September 2018, amid the Liberal Party's weakened position following Duterte's 2016 victory, Recto and his wife Vilma Santos-Recto left to rejoin the (), under which he had first run for in 1992. This return to was framed as a to his original roots, but observers highlighted it as part of a broader "midterm exodus" of politicians switching affiliations to hedge against the ruling party's dominance. Recto maintained his role as through the 18th Congress under . In the 2022 elections, he returned to the for Batangas's 4th district, aligning with the coalition supporting Jr., though formally under . Recto's multiple shifts—from LDP/Lakas to and back to —have drawn claims of , with detractors portraying him as a "political butterfly" who realigns with prevailing administrations for personal or electoral advantage, a common critique in the ' patronage-driven where loyalty often prioritizes winning coalitions over . Such accusations intensified with his 2024 appointment as Secretary of Finance under President Marcos Jr., despite his prior tenure opposing earlier Marcos-linked figures, though Recto defended his versatility as principled adaptability to national priorities rather than fickle allegiance. No formal probes have resulted from these claims, reflecting the normalized fluidity of Philippine political affiliations.

Policy critiques

Critics of Ralph Recto's fiscal policies have primarily targeted his advocacy for tax hikes, arguing that they impose undue burdens on ordinary without sufficiently tackling inefficiencies or . As a senator, Recto sponsored the 2005 Expanded (EVAT) law, which raised the VAT rate from 10% to 12% and extended it to previously exempt sectors like power and , generating significant but drawing accusations of regressivity that hit low-income households hardest by increasing costs for essentials. This measure, while credited with stabilizing finances during fiscal deficits, has been lambasted for prioritizing short-term collections over long-term structural fixes, such as curbing leakages in public spending. In his role as Finance Secretary since January 2024, Recto has opposed proposals to reduce to 10%, warning on October 14, 2025, that such cuts could swell the national debt, jeopardize public services, and invite downgrades from agencies like Moody's or S&P. Detractors, including economists and online commentators, counter that this stance entrenches a "taxpayer-first" approach amid persistent issues like ghost projects and graft, which Recto himself estimated on October 14, 2025, could have boosted GDP growth to 6-6.2% absent . They argue his extension of to digital services in 2025 further strains consumer budgets without offsetting reductions in bureaucratic waste or elite tax privileges. Public health advocate Dr. Tony Leachon has intensified calls for Recto's ouster, alleging on September 14, 2025, that his policies enable pork barrel diversions—such as P90 billion redirected in coordination with the —and align with interests, potentially delaying health reforms at the expense of fiscal prudence. Recto's defense of rising national debt as an "asset" for investments, stated in September 2025, has also fueled critiques of fiscal recklessness, with opponents claiming it masks inadequate revenue utilization and prioritizes debt servicing over alleviation. These views, echoed in public forums, portray Recto's economic strategy as elitist and disconnected, favoring creditor assurances over domestic relief despite the ' 5.6% GDP growth in 2024.

Personal life

Family and marriage

Ralph Recto married actress and Vilma Santos on December 11, 1992, at San Sebastian Cathedral in Lipa City, . The couple has one son together, Ryan Christian Recto. Recto is the stepfather to Luis Philippe Manzano, Vilma Santos's son from her earlier marriage to actor and Edu Manzano. The family resides primarily in , where Santos served as governor from 2007 to 2016 and representative from 2019 to 2022.

Public persona and affiliations

Ralph Recto is publicly recognized for his legislative expertise in economic and fiscal matters, having served as principal author of the Expanded (EVAT) Law in 2005 during his time as a congressman, which broadened the tax base to include previously exempt sectors like power and to address fiscal deficits. His reputation emphasizes competence, hard work, and a pragmatic approach to policy-making, often prioritizing evidence-based reforms over partisan lines. Recto maintains a relatively low-key public profile compared to his wife, actress-turned-politician Vilma Santos-Recto, focusing on substantive issues like and rather than media spectacle. In terms of political affiliations, Recto has shifted parties multiple times, reflecting pragmatic alliances: he began with the Laban ng Demokratikong Pilipino (LDP) from 1992 to 2001, joined Lakas from 2001 to 2004 and again from 2007 to 2009, aligned with the Liberal Party from 2009 to 2018, and has been with the Nacionalista Party since September 2018, when he and his wife left the Liberals to join amid preparations for local elections. As of 2024, his Nacionalista affiliation aligns him with the Marcos administration, where he holds the finance secretary post. Recto's professional affiliations include ex-officio roles tied to his cabinet position, such as membership on the Monetary Board representing the government sector, and serving as the Philippine Governor to the and the . He also holds board seats in entities like the Civil Aviation Authority of the Philippines and the Philippine Deposit Insurance Corporation, underscoring his involvement in financial oversight and infrastructure governance. These roles highlight a technocratic public image centered on economic stewardship rather than populist appeal.

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