NATIONAL
Advocates Philippines
Guarding Every Peso: Finance Chief Ralph Recto Reaffirms DOF's Role In Funding Progress
Photo credit: DOF
Finance Secretary Ralph G. Recto has vowed to guard every peso of taxpayer money, underscoring the Department of Finance’s (DOF) responsibility not just to collect revenues but to ensure they are spent wisely for the nation’s progress.
Speaking before the Senate Committee on Finance during the Development Budget Coordination Committee (DBCC) briefing on the proposed 2026 National Budget, Secretary Recto highlighted the DOF’s pivotal role in funding the country’s ambitions.
“It is us in the DOF who must raise the money to build the roads that connect us, to ensure every Filipino has access to quality education and healthcare, to secure our food supply, and to create opportunities for all to dream bigger,” he said.
Recto linked this mission directly to Ambisyon 2040—the long-term vision of a prosperous, middle-class Philippines where poverty is eliminated. But he also stressed that raising revenues is not enough; ensuring that no peso is wasted is just as critical.
“For good spending is the best way to encourage tax compliance. People are naturally resistant to taxes. But their tax obedience can be won if they will see how the taxes they paid are spent for the right things, at the right price, by the right agency, at the right time,” he emphasized.
The Finance Secretary expressed dismay over reports of corruption and ghost projects in the Department of Public Works and Highways’ flood control programs. He warned that such anomalies undermine trust and deprive Filipinos of opportunities.
“Raising revenues is no joke. Tapos makikita mo lang na hindi ito napupunta sa mga tamang proyekto at sa kapakanan ng taong bayan, yung iba naging multo pa,” Recto said.
According to DOF estimates, these ghost projects cost the economy between PHP 42.3 billion and PHP 118.5 billion from 2023 to 2025—losses equivalent to as many as 266,000 jobs.
To prevent such waste, Recto pledged that the 2026 National Expenditure Program (NEP), amounting to PHP 6.793 trillion, will undergo strict scrutiny. He assured Senators that the budget has been crafted to maximize impact, prioritizing infrastructure, education, health, agriculture, and social welfare.
“We prepared the NEP with the President to ensure that the projects to be funded in 2026 have the highest multiplier effect. Kaya babantayan po namin ito para walang ghost projects. Walang kurapsyon. Walang sayang na piso,” he said.
Recto ended with a clear appeal: that every peso in the 2026 budget must work as hard as the Filipinos who earn it.
“Let’s ensure that it is a budget that works as hard as the people who fund it––the taxpayers,” he stressed.
Speaking before the Senate Committee on Finance during the Development Budget Coordination Committee (DBCC) briefing on the proposed 2026 National Budget, Secretary Recto highlighted the DOF’s pivotal role in funding the country’s ambitions.
“It is us in the DOF who must raise the money to build the roads that connect us, to ensure every Filipino has access to quality education and healthcare, to secure our food supply, and to create opportunities for all to dream bigger,” he said.
Recto linked this mission directly to Ambisyon 2040—the long-term vision of a prosperous, middle-class Philippines where poverty is eliminated. But he also stressed that raising revenues is not enough; ensuring that no peso is wasted is just as critical.
“For good spending is the best way to encourage tax compliance. People are naturally resistant to taxes. But their tax obedience can be won if they will see how the taxes they paid are spent for the right things, at the right price, by the right agency, at the right time,” he emphasized.
The Finance Secretary expressed dismay over reports of corruption and ghost projects in the Department of Public Works and Highways’ flood control programs. He warned that such anomalies undermine trust and deprive Filipinos of opportunities.
“Raising revenues is no joke. Tapos makikita mo lang na hindi ito napupunta sa mga tamang proyekto at sa kapakanan ng taong bayan, yung iba naging multo pa,” Recto said.
According to DOF estimates, these ghost projects cost the economy between PHP 42.3 billion and PHP 118.5 billion from 2023 to 2025—losses equivalent to as many as 266,000 jobs.
To prevent such waste, Recto pledged that the 2026 National Expenditure Program (NEP), amounting to PHP 6.793 trillion, will undergo strict scrutiny. He assured Senators that the budget has been crafted to maximize impact, prioritizing infrastructure, education, health, agriculture, and social welfare.
“We prepared the NEP with the President to ensure that the projects to be funded in 2026 have the highest multiplier effect. Kaya babantayan po namin ito para walang ghost projects. Walang kurapsyon. Walang sayang na piso,” he said.
Recto ended with a clear appeal: that every peso in the 2026 budget must work as hard as the Filipinos who earn it.
“Let’s ensure that it is a budget that works as hard as the people who fund it––the taxpayers,” he stressed.
Sep 2, 2025
We are dedicated storytellers with a passion for bringing your brand to life. Our services range from news and media features to brand promotion and collaborations.
Interested? Visit our
Contact Us page for more information. To learn more about what we offer, check out our latest article on services and opportunities.
