Accelerated public spending and accomodative monetary policy in the Philippines are likely to widen the country’s current account deficit (CAD) this year, an economist said.
In a report released over the weekend, Nomura Securities Ltd. economist Euben Paracuelles said the current account deficit is set to widen for the rest of the year to 2.7 percent of gross domestic product (GDP) after narrowing to just 2 percent in the first half.
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