{"id":42868,"date":"2020-10-14T13:36:55","date_gmt":"2020-10-14T05:36:55","guid":{"rendered":"https:\/\/news.outsourceaccelerator.com\/?p=42868"},"modified":"2020-10-14T13:36:55","modified_gmt":"2020-10-14T05:36:55","slug":"bsp-expects-higher-bop-surplus-as-imports-collapse","status":"publish","type":"post","link":"https:\/\/news.outsourceaccelerator.com\/bsp-expects-higher-bop-surplus-as-imports-collapse\/","title":{"rendered":"BSP expects higher BOP surplus as imports collapse"},"content":{"rendered":"
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) expects higher dollar inflows this year than earlier expected, given the decline in imports amid weakened domestic demand.<\/span><\/p>\n In a statement, the central bank said it revised its balance of payments (BOP) position to an $8.1-billion surplus this year, equivalent to 2.2% of the gross domestic product. In May, the BSP forecasted the payments position to post a $0.6 billion surplus or 0.2% of the GDP.<\/span><\/p>\n The BOP consists of Philippine transactions with the rest of the world during a specific period. A surplus means more funds entered the country, while a deficit means more funds exited.<\/span><\/p>\n