By Katherine K. Chan, Reporter
THE Philippines’ balance of payments (BoP) position swung to a deficit for the first time in three months in July, data from the Bangko Sentral ng Pilipinas (BSP) showed.
According to central bank data released late on Wednesday, the country’s BoP position stood at a $1.47-billion deficit in July, a reversal from the $3.403-billion surplus in June.
Year on year, the BoP gap ballooned from $167 million.
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