BSP announces new projections for 2020
The Monetary Board (MB) of the Bangko Sentral ng PIlipinas (BSP) announced new projections for the country’s current account deficit and balance of balance of payments (BOP) this year, taking the global economic slowdown into account.
BSP Governor Benjamin Diokno said the overall BOP position is now projected to be 0.2% of the gross domestic product (GDP) for 2020, equivalent to $600 million. The earlier forecast in November 2019 was 0.7%, equivalent to $2.9 billion.
The current account to GDP was also revised to a deficit of $1.9 billion, equivalent to -0.5% of the GDP. This is smaller than the $8.4-billion deficit or -2.1% of GDP forecasted in November last year.
Related news
- DOLE optimistic on BPO resurgence in the next months · 15 Jun
- PH call centers deal with WFH problems · 11 Jun
- Malacañang approves 12 new eco zones worth P6.4 billion · 11 Jun
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
