The Malacañang Palace firmly denied rumors that Finance Secretary Ralph G. Recto had stepped down from his post at the Department of Finance.
In a statement sent to reporters, Palace Press Officer Claire Castro replied with a simple “Not true” when asked whether Recto had resigned.
The denial comes amid swirling speculation online that a shake-up at the top of the DOF might be imminent. Analysts say this could be tied to the broader context of the administration’s desire to recalibrate its economic team after earlier signals of under-performance.
Recto, who was appointed to his current role in January 2024, had earlier submitted a courtesy resignation in May 2025 as part of a standard review of Cabinet secretaries. The President rejected it, reaffirming his trust in Recto’s leadership.
With the Palace denying the resignation rumors, Recto appears set to continue leading the DOF as the administration moves forward with its economic agenda.