The country’s overall balance of payments (BOP) deficit was at its widest in the past three months, according to data released by the Bangko Sentral ng Pilipinas (BSP). Know more:
THE country’s overall balance of payments deficit was at its widest in the past three months, according to data released by the Bangko Sentral ng Pilipinas .
Despite the deficit in May 2023, the country’s overall BOP position in the past five months remained in surplus at $2.866 billion in 2023. Given the latest data, the country’s gross international reserves level decreased to $100.6 billion as of end-May 2023 from $101.8 billion as of end-April 2023. Moreover, data showed this is about 5.8 times the country’s short-term external debt based on original maturity and 4.1 times based on residual maturity.
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