PH projected to post BOP surplus despite pandemic

PH projected to post BOP surplus despite pandemic

Philippine monetary officials continue to see a surplus in the country’s balance of payment (BOP) position this 2020 despite the economic impact of the COVID-19 pandemic.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that from the projected USD2.9-billion surplus set during the central bank’s assessment in November 2019, the latest forecast for this year is a USD6-million surplus while it is USD2.4-billion surplus next year.

Diokno said these projections took into account the key developments as of last April, which include the “sharp contraction in both global and domestic economic activities in 2020, followed by a strong recovery in 2021.

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