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The Philippines posted a balance of payment surplus of $1.44 billion in the first half of 2024, despite the deficit incurred in June, the Bangko Sentral ng Pilipinas said Friday.
“The BOP deficit in June 2024 reflected outflows arising mainly from the national government’s payments of its foreign currency debt obligations,” the BSP said in a statement. The BSP said the trade deficit from January to May reached $20.6 billion, down from the $23.7-billion deficit posted in the same period last year.
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