THE PHILIPPINES posted its largest monthly balance of payments (BoP) deficit in four years in September, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.
US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERScit in four years in September, the Bangko Sentral ng Pilipinas said on Wednesday.
This was the sixth straight month that the country’s BoP position was in the red. It was also the widest deficit since the $2.696 billion in September 2018. In the nine months ending in September, the BoP deficit widened to $7.83 billion from $665-million de“This was to be expected as the country now runs a sizeable trade de“Based on preliminary data, this cumulative BoP deficit reflected the widening trade in goods deficit as goods imports continued to surpass goods exports on the back of the persistent surge in international commodity prices and resumption in domestic economic activities,” the central bank said.cit hit a record $6.
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