Central bank sees BoP surplus this year despite downturn

The BoP, which records all financial transactions and foreign trade made by the Philippines with the rest of the world, remained largely supported by investments in the tourism and business process outsourcing sectors, as well as by foreign loans that will be booked under the capital account, BSP officials said.

An expected decrease in the country’s import bill on the back of softening crude oil prices and a stronger peso should offset a slack in exports, meaning it was unlikely for the trade gap to widen, they said.

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