FINANCE Secretary Ralph G. Recto assured the public that the government’s swift and decisive action following the recent flood control controversy marks the beginning of a major government cleanup that will lead to stronger institutions, better governance, and faster growth in the months ahead.
“The President himself is the whistleblower of this controversy. At malinaw ang kaniyang mensahe: We will never turn a blind eye to corruption,” he said in his speech at the Department of Finance (DOF) 2026 Budget Briefing in the Senate on October 14, 2025.
“Things will only get better from here, as we have laid down the foundations for long-term growth,” he emphasized.
Secretary Recto highlighted that the administration is now taking decisive action to restore integrity in public spending by creating the Independent Commission for Infrastructure, strengthening governance and accountability mechanisms, digitalizing procurement systems, and ensuring full transparency at every level of government.
These efforts, he said, will build stronger institutions, which are the very backbone of a stable and growing economy in the long term.
The Finance Chief likewise assured the public that justice will be served, as those responsible for wrongdoing will be held fully accountable and brought to jail in the coming months ahead.
At the same time, Secretary Recto said the national government is moving swiftly to address Metro Manila’s flooding through stronger coordination with local government units (LGUs) and the private sector.
Moreover, the Finance Chief emphasized that the country is seeing stronger growth ahead, given that the government is addressing the leakages exposed by the recent controversy.
“The controversy has revealed that not all capital expenditures were translating into growth. And now that we’re plugging those leaks and reallocating funds to high-impact investments—such as education, healthcare, agriculture, and digitalization—we will only grow faster,” he said.
Under the Marcos Jr. administration, the Philippine economy has grown at an average rate of 5.9%—among the highest in the region—supported by low inflation, easing policy rates, strong consumer spending, and a vibrant labor market.
As of August 2025, employment reached 50.1 million, one of the highest levels on record, with more full-time and stable jobs being created. Wage and salary workers accounted for 64.4% of total employment, or 32.3 million Filipinos, most of whom are in private establishments.
To conclude, Secretary Recto reaffirmed the DOF’s commitment to protect every peso of the taxpayers’ money by ensuring that their taxes are spent on the right things, at the right price, by the right agency, and at the right time.
