Friday, November 7, 2025

Palace rejects resignation of economic team

In what can be seen as a move to appease the business sector, the Palace announced on Friday that it is rejecting the resignation of country’s economic team.

Also retained was Executive Secretary Lucas Bersamin, who made the announcement.

“He (President Ferdinand Marcos Jr.) communicated to me I have his full backing, for as long as I wish to work for him. And that is a very good gesture of the President because that is a sign of his manifestation of his full trust and confidence in myself,” Bersamin said in a Palace press briefing.

Apart from Bersamin, Marcos also rejected the courtesy resignations of his economic team — Trade Secretary Maria Cristina Roque, Finance Secretary Ralph Recto, Budget Secretary Amenah Pangandaman, Economic Secretary Arsenio Balisacan, and Special Assistant to the President for Investments and Economic Affairs Frederick Go.

“These five will continue in their positions, serving our people, and you can expect that they will be sincere and dedicated to their sworn duties),” Bersamin said in Filipino.

Fifty-two Cabinet members and government heads have already submitted their courtesy resignations, upon the directive of Marcos as part of his bid for a government “reset.”

Marcos said there will be “more careful evaluation” of the performance of the heads of government agencies and offices.

BUSINESS GROUPS AIR CONCERN

On Thursday, an official of the Makati Business Club MBC Chairman Edgar Chua said that the current administration has a very good economic team.

“Although there is no perfect score to be given to the economic team, generally speaking, the President has a very good economic team. We can give them an 8 out of 10, particularly the Agriculture, Transportation, OSAPIEA (Office Special Assistant to the President for Investment and Economic Affairs), and the DTI, even if they are relatively new to their posts,” he added.

On the other hand, Makati Business Club president Apa Ongpin said his group does not expect a massive shake up in the economic team.

“Although they have submitted courtesy resignations, we expect at least two of them will be replaced, and others will be reappointed. These people are qualified, and we will be very surprised if President Marcos accepts their resignations and lets them go,” Ongpin said.

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