Balance of Payments Incur $420-Million Deficit in 2016

The balance of payments (BOP) deficit narrowed to $214 million in December from the $1.67-billion deficit in November. This is a reversal of the $481 million surplus a year ago and brought the 2016 BOP to a deficit of $420 million, a turnaround from the $2.61 billion surplus in 2015. Economic officials earlier revised the forecast to $500 million surplus, or 0.2 percent of the gross domestic product (GDP), from a previous forecast of $2 billion, or…

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