BSP cuts 2008 BOP surplus forecast

ABS-CBN News

Posted at Jun 16 2008 10:31 AM | Updated as of Jun 16 2008 06:31 PM

Reuters

The Bangko Sentral ng Pilipinas has cut its forecast for the country's balance of payments (BOP) surplus this year to $2.5 billion from an original projection of $3.4 billion, the central bank chief said on Monday.

"While lower, it's still a decent surplus given the challenging environment," Amando Tetangco said in a mobile text message.

The Philippines had a balance of payments surplus of $8.6 billion in 2007.