Philippines posts $62 million balance of payment surplus in July

August 19, 2024 - 3:08 PM
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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 was a surplus of $62 million in July from a deficit of $155 million in June, the central bank said on Monday.

The cumulative BOP level as at end-July was a $1.5 billion surplus. The Philippine central bank has forecast a $700 million BOP surplus for 2024.

 —Reporting by Mikhail Flores; Editing by John Mair