MANILA, Philippines — The Philippines continued to invest more than what its national saving can finance after posting a wider current account deficit in the first half of the year, adding pressure on the nation’s weakening currency. The current account position is an important indicator about the economy’s health. If the current account balance is in surplus, the country is a “net lender” to the rest of the world. “In terms of current account deficit, this reflects sustained growth of the Philippine economy. As you know, it’s the government’s ‘Build, Build, Build’ program... so the current account deficit is in line with this program of the government,” Alegre added.

Source: Philippine Star September 14, 2018 10:41 UTC