IN a significant cabinet reshuffle, Finance Secretary Ralph Recto has been appointed as the new Executive Secretary of President Ferdinand Marcos Jr., replacing Lucas Bersamin. Simultaneously, Special Assistant to the President for Investment and Economic Affairs Frederick Go will take over as the chief of the Department of Finance. The announcements were made by Palace Press Officer Claire Castro during a briefing at Malacañang on Monday.
The move comes amidst mounting pressure on former Executive Secretary Lucas Bersamin, who had been facing calls for his resignation following allegations of corruption and irregularities within the Department of Public Works and Highways (DPWH). Bersamin, responsible for overseeing the day-to-day operations of the Office of the President, had been implicated in controversies surrounding anomalous infrastructure and flood-control projects.
Notably, in September, former Public Works Undersecretary Roberto Bernardo alleged that Bersamin was among several government officials who received kickbacks from these corruption-tainted flood control projects.
While Recto had previously denied rumors of his potential replacement of Bersamin, the recent developments suggest a swift response from the Marcos administration to address the growing concerns surrounding the Executive Secretary’s office.
The appointment of Recto, a seasoned economist and former senator, signals a potential shift in focus towards economic stability and fiscal management within the Marcos administration.
Similarly, the designation of Frederick Go, a prominent figure in investment and economic affairs, highlights the administration’s commitment to attracting investments and boosting the country’s economic growth.
The reshuffle is expected to bring fresh perspectives and renewed vigor to key positions within the government, as the Marcos administration navigates pressing economic challenges and strives to maintain public trust.
