Balance of Payment Hits Deficit of $9 Million

The country’s balance of payments registered a deficit of $9 million in January, an improvement from the $214-million deficit in December and $813 million shortfall in January last year. The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) said that this is a carryover of the negative sentiment in December 2016, as the Philippines continued to attract lower foreign direct investments as well as foreign portfolio investment over the past few months due to the US Fed decision to raise interest rates. For…

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