By Luisa Maria Jacinta C. Jocson, Reporter
THE BANGKO SENTRAL ng Pilipinas (BSP) expects the country’s balance of payment (BoP) position to post a bigger surplus this year, but also anticipates a wider current account deficit.
In a statement late on Friday, the central bank said it raised its BoP forecast amid “sustained positive global and domestic economic growth prospects, decelerating inflation, as well as the pickup in world trade activity.”
The BSP’s latest projections show the BoP will register a surplus of $2.3 billion, equivalent to 0.5% of gross domestic product (GDP) this year, higher than its earlier projection of $1.6 billion (0.3% of GDP).
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