Philippines posts $196 million balance of payment deficit in February

March 20, 2024 - 9:15 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 $196 million in February from a deficit of $895 million a year ago, the central bank said on Tuesday.

Cumulative BOP level at end-February was at a $936 million deficit. The Philippine central bank has a $700 million BOP surplus forecast for 2024.

— Reporting by Mikhail Flores; Editing by Kanupriya Kapoor