Purisima named as Asia’s best finance minister
Finance Secretary Cesar V. Purisima has once again been recognized as Finance Minister of the Year by a Hong Kong-based publication.
For the fifth time, FinanceAsia recognized Purima’s leadership in driving the turnaround story of the Philippines as head of President Aquino’s team of economic managers.
“The award truly belongs
to President Aquino and my colleagues in the Philippine cabinet because the economic growth and fiscal reforms are truly a team effort,” Purisima said.
“Less than two years before the end of this term, we are pushing for even more game-changing reforms. There is no shortage of impossible dreams for a Philippines filled with hope. We are raring and ready for more,” he added.
The award comes at an opportune time, as the Philippines hosts the 2015 Asia Pacific Economic Cooperation (APEC) meetings calling for greater financial integration and transparency, as well as financing for economic resiliency and infrastructure around the region.
FinanceAsia also cited Purisima’s role in pushing for Sin Tax Reform, credited for boosting the health budget by a staggering 57 percent from 2013 levels, with share of excise taxes collected the highest in 13 years.
“Reforms beget rewards. This award strengthens our resolve to double down on reforms: rationalize fiscal incentives, modernize our revenue generating agencies, and engineer a competitive and equitable tax structure for all Filipinos,” Purisima said.
This fifth citation marks the fourth consecutive year where Purisima has been acknowledged Finance Minister of the Year by various institutions.
In 2011, he was recognized as the Finance Minister of the Year for Asia by Emerging Markets, while Euromoney gave him the distinction of Finance Minister of the Year for 2012.
In 2013, Purisima became a repeat awardee of the Finance Minister of the Year for Asia distinction from Emerging Markets.
Most recently, he was cited by The Banker as Finance Minister of the Year for Asia Pacific in 2013. Purisima is also the first and so far only repeat awardee of the said distinction from Emerging Markets since the publication started recognizing Finance Ministers of the Year for Asia in 2007.