PBBM appoints new roster of high-caliber DOF senior officials

President Ferdinand R. Marcos, Jr. has appointed a new roster of high-caliber senior officials in the Department of Finance (DOF) who would support Finance Secretary Ralph G. Recto in ensuring long-term fiscal sustainability and accelerating inclusive economic growth. 

“I thank the President for appointing a new group of distinguished professionals in the DOF with whom I have worked in the past. They are valuable additions to the existing team in the DOF, which is comprised of equally talented individuals and who have been important pillars for the agency,” Secretary Recto said.

Joining Secretary Recto in the DOF is Mr. Rolando G. Tungpalan who will serve as Undersecretary of the Corporate Affairs and Strategic Infrastructure Group.  

He will be in charge of fast-tracking the roll-out of President Marcos, Jr.’s Build Better More program and ensure swift government action on investments by addressing critical bottlenecks and creating a conducive environment that welcomes investors with a red carpet.

Tungpalan is a seasoned economist who served as Undersecretary for Investment Programming of the National Economic and Development Authority (NEDA).

In this capacity, Tungpalan chaired the Technical Boards of the Investment Coordination Committee (ICC) and the Infrastructure Committee of the NEDA Board. He also played a key role as the primary government representative for multilateral and bilateral programming of official development assistance (ODA), leading negotiations and high-level consultations.

Tungpalan is a graduate of the University of the Philippines Diliman where he completed his degree in Economics. He earned masteral units in Economic Research at the Center for Research and Communications. 

On top of these, he earned the highest rank in the Career Executive Service and was awarded the Distinguished Service Award in 2018 by the UP School of Economics Alumni Association.

Additionally, he completed a comprehensive training program in operations research at the Institute of Mathematics and Operations Research at the Technical University of Denmark.

Mr. Joven Balbosa, who has served in senior roles in key multilateral agencies, assumes the position of Undersecretary