Arab Today, arab today philippine balance of payments deficit seen to hit 34bn in 2014
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

Philippine balance of payments deficit seen to hit $3.4bn in 2014

Arab Today, arab today

Arab Today, arab today Philippine balance of payments deficit seen to hit $3.4bn in 2014

Philippine
Manila - XINHUA

The Philippines' balance of payments (BOP) position for 2014 is seen ending in deficit this year from a previous forecast of a surplus, the country's central bank said on Friday.
Bangko Sentral ng Pilipinas, or the central bank, said the BOP deficit will hit 3.4 billion U.S. dollars by year-end, a reversal of projected 1.1 billion dollars surplus announced in July. The country registered a 5.1 billion dollars surplus last year.
"Specifically, the normalization of policy in the U.S. has affected financial markets especially since there was a reallocation of assets affecting the Philippines and other emerging markets," central bank Governor Amando M. Tetangco, Jr. said.
The latest central bank data showed that the BOP position remained in a deficit of 3.43 billion dollars as of September.
Tetangco, however, said the projected deficit will not adversely affect the country's gross international reserves, which is expected to settle at around 80 billion dollars by year-end.
Despite a BOP deficit, the current account is expected to remain in surplus this year, an indication that the Philippine economy remains healthy.
Tetangco said the central bank even hiked its projection for the current account surplus to 6.6 billion dollars by the end of the year from the previous forecast of 6 billion dollars on a smaller trade deficit due to increasing imports.
The country's BOP position is expected to return to a surplus next year, which is forecast to be 1 billion dollars.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today philippine balance of payments deficit seen to hit 34bn in 2014 Arab Today, arab today philippine balance of payments deficit seen to hit 34bn in 2014

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today philippine balance of payments deficit seen to hit 34bn in 2014 Arab Today, arab today philippine balance of payments deficit seen to hit 34bn in 2014

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday