MANILA, Oct. 21 -- Malacanang on Tuesday dismissed rumors about the alleged resignation of Finance Secretary Ralph Recto.

"Not true," Palace Press Officer Claire Castro said in a text message to Palace reporters when asked to confirm reports about Recto's alleged resignation.

Castro issued the statement amid rumors circulating on social media that a new Department of Finance (DOF) secretary would be announced by November.

President Ferdinand R. Marcos Jr. appointed Recto as head of the DOF in January 2024.

Recto, a former lawmaker, also had a brief stint as chief of the National Economic and Development Authority during the Arroyo administration in 2008.

In May 2025, Recto submitted his courtesy resignation, following Marcos' directi...