By Keisha B. Ta-asan, Reporter THE PHILIPPINES posted a $612-million balance of payment (BoP) surplus in December, bringing the full-year level to a record deficit of $7.3 billion. The full-year gap was a reversal of the $1.3-billion surplus in 2021, the Bangko Sentral ng Pilipinas said in a statement on Thursday. “This cumulative BoP deficit […]
THE current account deficit as a proportion of gross domestic product (GDP) is now projected at 4.7% this year from 4.5% previously, with easing commodity prices offset by strong imports of capital goods, Fitch Solutions Country Risk & Industry Research said in a report. The 2023 projection is lower than the expected percentage in 2022 […]
By Luisa Maria Jacinta C. Jocson, Reporter The National Government’s budget deficit ballooned to P99.1 billion in October, as state spending outpaced revenue collections, the Bureau of the Treasury (BTr) reported on Friday. In its latest cash operations report, the BTr said the October budget gap rose by 54.08% from the P64.3 billion deficit in […]
PHILIPPINE STOCKS surged on Thursday as the peso continued to recover against the dollar and as the government’s fiscal deficit narrowed in September. The benchmark Philippine Stock Exchange index (PSEi) rose by 109.05 points or 1.78% to close at 6,230.58 on Thursday, while the broader all shares index gained 39.11 points or 1.2% to finish […]
STOCKS dropped on Thursday on profit taking and fears that the country’s wider balance of payments (BoP) deficit may cause the peso to weaken further versus the dollar. The benchmark Philippine Stock Exchange index (PSEi) declined by 92.32 points or 1.5% to finish at 6,055.99 on Thursday, while the broader all shares index went down […]
THE PESO ended weaker versus the dollar on Wednesday as the country posted a four-year high balance of payments (BoP) deficit in September and amid hawkish signals from a US Federal Reserve official. The local unit closed at P58.945 against the dollar on Wednesday, down by 19.5 centavos from P58.75 on Tuesday, data from the […]
by Diego Gabriel C. Robles The National Government’s budget deficit narrowed in July, as government revenues grew by double-digits, the Bureau of the Treasury (BTr) reported on Friday, with economists attributing this to the uptick in business activity as pandemic restrictions continued to ease. In a statement, the BTr said the budget gap stood at […]
THE PESO may continue to depreciate against the dollar this week as market players anticipate the US Federal Reserve’s policy direction in bringing inflation within target at their annual global central bankers’ conference on Friday. The local unit closed at P55.93 on Friday, weakening by 4.2 centavos from its P55.888 finish on Thursday, data from […]
The country’s balance of payments (BoP) position remained in a deficit for a fourth straight month in July, as more dollars flowed out of the country to pay for the government’s foreign debt. Data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed the BoP deficit widened to $1.819 billion in July, a […]
THE bellwether index slipped further on Thursday as rising coronavirus disease 2019 (COVID-19) cases in the country and latest balance of payments (BoP) data weighed on sentiment and ahead of meetings of key central banks. The Philippine Stock Exchange index (PSEi) went down by 18.63 points or 0.29% to close at 6,256.17 on Wednesday, while […]
THE PHILIPPINES posted its largest monthly balance of payments (BoP) deficit in 15 months in May, mainly due to the National Government’s foreign debt payments, the central bank said on Tuesday. Read the full story.
The Philippine central bank said on Friday it expects the country’s current account (C/A) balance to register wider deficits in 2022 and 2023 than previously projected, taking into account the challenges facing the global economy. The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments (BoP) projections, with the current account deficit now […]
THE PHILIPPINES’ April trade deficit narrowed month on month to $4.8 billion, as exports slightly picked up and imports grew at their slowest pace in 13 months amid the Russia-Ukraine war and supply chain disruptions. Read the full story.
By Luz Wendy T. Noble, Reporter The country’s balance of payment (BoP) posted a deficit in April as the government continued to pay for its foreign debt obligations, and as the trade deficit widened due to the rising value of imports. Data released by the Bangko Sentral ng Pilipinas late Thursday showed the BoP stood […]
THE National Government’s budget deficit widened to P23.4 billion in January, as spending increased due to the release of tax allotments to local government units (LGUs). Data from the Bureau of the Treasury released on Thursday showed the January fiscal gap jumped by 66.3% from the P14.1-billion deficit a year earlier. Month on month, the […]
MANILA – The Philippine central bank said on Friday it had revised its current account and balance of payments projections for this year to reflect the country’s improving growth prospects as well as the impact of Russia’s invasion of Ukraine. The country’s current account deficit is projected to reach $16.3 billion this year, or 3.8% […]
By Jenina P. Ibañez, Senior Reporter The budget deficit widened in November as health and public works agencies continue to ramp up spending amid the coronavirus pandemic, the Bureau of the Treasury (BTr) reported. Preliminary data from the BTr on Friday showed the fiscal gap stood at P128.7 billion in November, inching up 0.33% from […]
PHILIPPINE shares closed in the green on Tuesday as investor sentiment got a boost from improvements in the country’s vaccination rate and fresh data showing a narrower budget deficit in July. The Philippine Stock Exchange index (PSEi) gained 87.15 points or 1.32% on Tuesday to close at 6,678.82, while the broader all shares index added […]
The country’s trade-in-goods deficit in June shrank to its smallest amount in three months, although this did not prevent the year-to-date shortfall from surging faster than in the previous year, the Philippine Statistics Authority (PSA) reported on Friday. Preliminary PSA data showed merchandise exports during the month expanded by 17.6% year on year to $6.51 […]
THE PESO may continue to depreciate versus the greenback this week on rising concerns due to the local transmission of the Delta variant of the coronavirus disease 2019 (COVID-19) and ahead of the release of latest budget balance data. The local unit closed at P50.235 per dollar on Friday, slipping by 1.5 centavos from its […]