MANILA, Philippines: Outgoing Finance Secretary Benjamin Diokno is confident that he will be turning over his seat to his successor. House of Representatives' Deputy Speaker Ralph Recto, ' at a time when the Philippine economy, in general, and the DoF (Department of Finance), in particular, are in a better state of affairs than when I inherited them.'

Malacanang announced late Thursday night that President Ferdinand Marcos Jr. appointed Recto as DoF chief, ending weeks of speculation about Diokno's exit although the reason for the former Finance secretary's departure remained unclear.