BSP projects $3.7-billion BOP surplus this year 0 SHARES Share it! The BSP however estimates a higher current account shortfall of $10.1 billion for this year from its previous projection of $8.4 billion deficit. The latest BOP surplus projection is equivalent to one percent of GDP while the current account deficit is 2.8 percent of GDP. “This is reflected in the current account because of the large trade deficit … we have seen the significant expansion in the mechandise trade deficit.”Still, Guinigundo reiterated that the current account remains financiable. As of end-March this year, the BSP reported a current account deficit of $1.2 billion, higher than same time last year of $335 million deficit.

Source: Manila Bulletin June 14, 2019 14:03 UTC