BSP revised 2024 current account deficit target to $4.7bn (-1% of GDP) and 2025 target to $2bn (-0.4% of GDP).
The Bangko Sentral ng Pilipinas (BSP) revised the 2024 current account deficit target to $4.7bn (-1% of GDP) from $6.1bn (-1.3% of GDP). The 2025 target was lowered to $2bn (-0.4% of GDP) from $5.8bn (-1.1% of GDP). The BSP also raised the country's balance of payments (BOP) surplus forecast to $1.6bn (0.3% of GDP) for 2024 and to $1.5bn (0.3% of GDP) for 2025, due to improved global economic activity and a narrowing trade gap.
June 14, 2024
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