April Balance of Payments Record $917-Million Surplus

The surplus in the country’s balance of payments (BOP) reached a 26-month high of $917 million in April, almost reversing the deficit recorded in the first three months of the year. This was attributed to the strong growth in remittances and robust business process outsourcing (BPO) sector. The Philippines booked a BOP deficit of $420 million last year, a complete reversal of the $2.62 billion surplus recorded in 2015. For this year,…

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