MANILA, Philippines — The Philippines posted another month of dollar deficit in June, albeit narrower as earnings from the central bank’s investments overseas offset hefty withdrawals by the national government to pay for its old foreign debts. However, the dollar deficit was narrower compared to May, when the shortfall stood at $1.39 billion. A deficit happens when foreign fund outflows exceed inflows. For this year, the BOP surplus is forecast to reach $7.1 billion, smaller than $16 billion surfeit in 2020. In the first half of the year, the BOP position registered a deficit of $1.94 billion.

Source: Philippine Star July 27, 2021 09:33 UTC