The country’s balance of payments surplus and gross international reserves were both lower as of end-April due to government payments of maturing foreign loans, according to the Bangko Sentral ng Pilipinas .
Meantime, the small BOP surplus of $79 million as of end-April was a reversal of the $231 million deficit same time in 2021. “Based on preliminary data, the cumulative BOP surplus reflected inflows that stemmed mainly from personal remittances, net foreign borrowings by the NG , and foreign direct investments,” said the BSP.
For 2022, the BSP forecasts a BOP deficit of $4.3 billion because of lingering global uncertainties amid the Russia-Ukraine war and its impact on international markets such as commodity prices. Last year, the country’s BOP was in a surplus position of $1.34 billion but it was significantly lower from 2020’s $16 billion surplus.
The GIR forecast remains at $108 billion for this year. The GIR will still be supported by foreign borrowings by the government and potential increase in the volume of gold purchases, said the BSP.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PSA: 10.5-M Pinoys receive national IDs in April | Cai OrdinarioSome 10.5 million Filipinos have received their national IDs as of the end of April, according to the Philippine Statistics Authority (PSA). PSA reported that the National ID cards that were delivered accounted for 33.7 percent of the government’s target distribution this year. Receiving the National ID and the PhilSys…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Gucci sells a $1,290 umbrella that can't be used in the rainAre you willing to pay thousands of dollars for an umbrella that isn't waterproof? 😲
Source: gmanetwork - 🏆 12. / 63 Read more »
LISTEN: Lazada Talks episode 2 podcastMissed Lazada Talks Episode 2? Listen to the entire discussion in audio form on Spotify, and learn what emerging opportunities for eCommerce are out there. BrandRap
Source: rapplerdotcom - 🏆 4. / 86 Read more »
PSA: 10.5-M Pinoys receive national IDs in April | Cai OrdinarioSome 10.5 million Filipinos have received their national IDs as of the end of April, according to the Philippine Statistics Authority (PSA). PSA reported that the National ID cards that were delivered accounted for 33.7 percent of the government’s target distribution this year. Receiving the National ID and the PhilSys…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Cebu Exchange set to welcome more occupantsCEBU CITY, Philippines -- The country’s largest multi-certified green office building is now ready to welcome more occupants.Arthaland Corp. formally announced on Friday, April 22, the
Source: cebudailynews - 🏆 8. / 71 Read more »
PNP admits difficulty in shutting down e-sabong websites“We have to understand na internet based ito. Hindi natin basta pwedeng habulin at bulatlatin ang owner. We have to really coordinate doon sa service provider to find out and established the identity ng mga nag-o-operate,” PNP spokesperson Colonel Jean Fajardo said.
Source: gmanews - 🏆 11. / 68 Read more »