Benjamin Diokno Speaks On Being Chosen As Finance Secretary Of Bongbong Marcos

Benjamin Diokno: “It is an honor to serve the Filipino people in my current and any future capacity.”

BENJAMIN DIOKNO — Here’s what the BSP chief said after being chosen as finance secretary of President-elect Bongbong Marcos.

Benjamin Diokno
Photo: Benjamin Diokno / Twitter

Diokno is Bongbong’s pick to lead the Department of Finance (DOF). He was supposed to serve as Bangko Sentral ng Pilipinas (BSP) Governor until July 2023.

In a statement on Thursday, the BSP chief said that it’s an honor to serve the Filipino people in his current and any future capacity.

Diokno said that he’s grateful and humbled by the trust given to him by President-elect Bongbong Marcos to help his administration manage the country’s fiscal affairs.

Diokno also emphasized the importance of policy continuity as he accepts the top post at the Department of Finance.

According to him, it is his view that continuity of sound macro and fiscal policies is important in order to “achieve the stronger post-COVID Philippine economy” as the country transitions to the next administration.

As finance secretary, I will strive to continue prudently and carefully balancing the need to support economic growth, on one hand, and to maintain fiscal discipline, on the other,” Diokno said.

BSP Governor Benjamin Diokno
Photo source: ABS-CBN News

The BSP chief is no stranger to handling the country’s economic issues, having served 3 Philippine Presidents.

Prior to being appointed as the 5th BSP governor, Diokno served as the budget secretary under 2 administrations. He also served as the Department of Budget and Management (DBM) secretary of President Rodrigo Duterte from 2016 to 2019 and former president Joseph “Erap” Estrada from 1998 to 2001.

Also, Diokno was involved in policy reforms under the administration of former president Corazon Aquino.

Rappler reported that the BSP chief is a professor emeritus of the University of the Philippines School of Economics. Diokno taught subjects like macroeconomics and public sector economics.

READ ALSO: Benjamin Diokno Named “Global Central Banker of the Year 2022”

Meanwhile, Bangko Sentral ng Pilipinas (BSP) Monetary Board Member Felipe Medalla was chosen by President-elect Bongbong Marcos to lead the central bank.

Diokno and Medalla join Arsenio Balisacan, President-elect Bongbong Marcos’ socioeconomic planning secretary, in the incoming administration’s economic team.

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