By Luisa Maria Jacinta C. Jocson, Senior Reporter
THE PHILIPPINES’ balance of payments (BoP) deficit widened further in April as the government paid back its external debt, data from the Bangko Sentral ng Pilipinas (BSP) showed.
The BSP on Monday said the BoP deficit stood at $2.56 billion in April, wider than the $639-million gap a year ago and the $1.97-billion shortfall in March.
The BoP measures the country’s transactions with the rest of the world. A deficit indicates more funds exited the Philippines while a surplus means more money entered the country than left.
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