THE country’s balance of payments (BOP) will end this year and 2028 in deficit amid increased external uncertainties, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
THE country’s balance of payments will end this year and 2028 in deficit amid increased external uncertainties, the Bangko Sentral ng Pilipinas said on Friday.The central bank widened its BOP deficit forecast for 2025 to $6.3 billion from $4.0 billion, but said that this could narrow to $2.8 billion next year instead of hitting $4.3 billion.Preliminary estimates placed the shortfall at $3.0 billion as of end-March.
“The services trade remains broadly resilient, although downside risks persist,” the BSP said.“Outsourcing revenues are supported by stable demand for contact center services, yet they confront uncertainties due to US job reshoring initiatives and local talent shortages,” it added.The BSP said that tourism receipts would be bolstered by airport and accommodation improvements, but would face headwinds from competition and rising transport costs.
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