July Balance of Payments at $678 Million in Deficit

The balance of payments (BOP) deficit hit an eight-month high of $678 million on the month the peso neared its 11-year low. The July deficit was the widest since the $1.671 billion posted in November last year, and a reversal of the $215-million surplus in the same month last year. BSP officials attributed the deficit to a surge in imports of capital goods resulting from the government’s plan to ramp up infrastructure investments…

Subscribe via email for complete access to Supreme Consult’s weekly report on political and investment risks in the Philippines.