Philippines posts $439 million balance of payment deficit in May

June 20, 2023 - 10:38 AM
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1000 cash
This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

 The Philippines’ overall balance of payments (BOP) position hit a deficit of $439 million in May, narrower than the $1.6 billion deficit a year ago, the central bank said on Monday.

Cumulative BOP level for January to May was at $2.9 billion surplus, reversing a $1.5 billion deficit in the same period last year, it added.

—Reporting by Neil Jerome Morales; Editing by Toby Chopra