$3.7-B BoP surplus forecast this yearBy THE MANILA TIMEShome/Business/Top Business/$3.7-B BoP surplus forecast this yearTHE Bangko Sentral ng Pilipinas (BSP) sees a positive balance of payments (BoP) this year as sustained investment inflows are likely to offset the expected current-account deficit. In a briefing on Friday, monterary officials announced that overall BoP could revert to a surplus of $3.7 billion this year, reversing 2018’s $2.306-billion deficit. The new overall BoP forecast was also a reversal of the previously projected $3.5-billion deficit, and equivalent to 1.0 percent of gross domestic product (GDP). “That’s mainly on account of weaker export growth — the projection now is 2-percent overall growth for 2019 versus 6 percent back in November. Despite the expansion of the current account during the period, the BoP balance was earlier reported to have reverted to a surplus of $3.797 billion from the $1.227-billion deficit the year before.

Source: Manila Times June 14, 2019 16:30 UTC