June Balance of Payment at $569-M Deficit

Balance of payments position widened to a $569-million deficit in June from the previous month’s $59-million shortfall, reversing a $418-million surplus posted in June 2016. This is the largest deficit since a peak of $1.671-billion in November last year. It brought the first-half total to a $706-million deficit, a reversal of the $634-million surplus recorded in 2016’s first six months. The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) attributed the deficit to bigger demand for dollars among companies, government’s…

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