Diokno secures CA confirmation as finance secretary

The Commission on Appointments (CA) unanimously approved on Wednesday the appointment of Benjamin Diokno as Finance Secretary, a day after he brushed off speculation he would be replaced soon.

Diokno, who served as Department of Budget and Management chief and Governor of the Bangko Sentral ng Pilipinas under the Estrada and Duterte administrations, was recommended for confirmation by
Senator Imee Marcos as chairperson of the CA finance committee.

Diokno’s confirmation also comes after President Bongbong Marcos downplayed reports that the Finance Secretary was on the way out, saying it was not a good time to “change horses in mid-stream.”

It would be recalled that Marcos axed former Bureau of Internal Revenue commissioner Lilia C. Guillermo, a trusted lieutenant of Diokno, and appointed his godson, former BIR deputy commissioner Romeo Lumagui Jr.

Meanwhile, Diokno said he would continue to serve the Filipino people to the best of his ability.

He also assured that the national debt remains within manageable levels
despite a slightly elevated debt-to-gross domestic product ratio.

Diokno said the country’s outstanding debt which stood at P13.57 trillion as of end-September should not be a cause for concern as he expressed confidence the Philippine economy could “grow by 6.5-8 percent in the next six years.”