The revised projection is more than double the previous forecast of $3.1 billion or 0.9 percent of GDP announced last May. The CA position measures the net transfer of real resources between the domestic economy and the rest of the world. This would be the widest shortfall since the CA deficit of 2.3 percent of GDP in 2001. Likewise, the growth in remittances is also expected to ease to three percent for 2018 and 2019. For 2019, the BOP deficit is seen thinning to $3.5 billion or one percent of GDP.

Source: Philippine Star December 14, 2018 16:01 UTC