NEW balance of payments (BoP) projections have been approved by the Bangko Sentral ng Pilipinas, with higher surpluses expected for this year and the next given positive outlooks for economic growth, inflation, and world trade.
NEW balance of payments projections have been approved by the Bangko Sentral ng Pilipinas, with higher surpluses expected for this year and the next given positive outlooks for economic growth, inflation, and world trade.'The latest set of forecasts indicate an improvement in the overall balance of payments position for 2024 and 2025 relative to the June 2024 projection exercise,' the Bangko Sentral ng Pilipinas said late Friday.
As for the current account, the estimate for this year is a deficit of $6.8 billion — up from $4.7 billion previously. A higher $5.5-billion shortfall — this was $2.0 billion three months ago — was set for 2025.Merchandise exports were projected to hit $57.6 billion this year, down from $58.1 billion previously, with growth slowing to 4.0 percent from 5.0 percent. The 2025 estimates were also trimmed to $61.1 billion from $61.6 billion, with growth staying at 6.0 percent.
Sentral Sees Higher Bop Surpluses
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