PH posts $429-M balance of payments deficit in Feb | ABS-CBN
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PH posts $429-M balance of payments deficit in Feb
PH posts $429-M balance of payments deficit in Feb
ABS-CBN News
Published Mar 19, 2018 05:14 PM PHT
MANILA - The Philippines posted a balance of payments deficit of $429 million in February, the central bank said Monday.
MANILA - The Philippines posted a balance of payments deficit of $429 million in February, the central bank said Monday.
The Bangko Sentral ng Pilipinas said outflows in February stemmed mainly from the central bank's foreign exchange operations and government payment of foreign debt.
The Bangko Sentral ng Pilipinas said outflows in February stemmed mainly from the central bank's foreign exchange operations and government payment of foreign debt.
A widening trade deficit as well as higher net outflows of foreign portfolio investments also partly led to the higher BOP shortfalls, the BSP said.
A widening trade deficit as well as higher net outflows of foreign portfolio investments also partly led to the higher BOP shortfalls, the BSP said.
The shortfall last month pushed the BOP deficit in the first two months to $961 million.
The shortfall last month pushed the BOP deficit in the first two months to $961 million.
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Since 2016, the Philippines has been posting BOP shortfalls, based on data from the BSP.
Since 2016, the Philippines has been posting BOP shortfalls, based on data from the BSP.
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