By Luisa Maria Jacinta C. Jocson, Senior Reporter
THE country’s balance of payments (BoP) position swung to a $2-billion deficit in March, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
Central bank data showed the BoP posted a deficit of $1.97 billion in March, a reversal from the $3.09-billion surplus in February and the $1.17-billion surfeit in the same month a year ago.
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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