Philippines posts BOP deficit for 5th straight month in Feb


Posted at Mar 20 2017 03:41 PM

The Philippines' balance of payments deficit (BOP) widened to $436 million in February. 

This was also the fifth straight month that the country posted a BOP deficit. 

According to data released by the Bangko Sentral ng Pilipinas (BSP), the February BOP deficit widened from $9 million in January, and was nearly double the $251 million deficit in the same month last year.

Despite this, the BSP still expects the country to post a BOP surplus of $1 billion this year, compared with last year's deficit of $420 million.

The Philippines' current account meanwhile remained in a surplus for
the 14th consecutive last year, BSP data showed. 

The $601 million surplus in 2016, however, was significantly narrower than the $7.3 billion surfeit in 2015, due to the widening trade deficit.