May BOP surplus at $42 million

ABS-CBN News

Posted at Jun 16 2008 01:34 PM | Updated as of Jun 16 2008 09:34 PM

Reuters

The Philippines recorded a balance of payments surplus of $42 million in May, a fraction of the previous month's surplus of $499 million, data from the central bank showed on Monday.

For the first five months of the year, the Philippines had a BOP surplus of $2.2 billion.

The central bank has cut its forecast for this year's BOP surplus to $2.5 billion from an earlier forecast of $3.4 billion.