BoP deficit widens; foreign reserves dip

Oct 20, 2023 12:41 am

THE Philippines' balance of payments (BoP) shortfall ballooned to $414 million in September as the government paid off part of its foreign debt, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

The deficit was significantly higher than August's $57 million but was still substantially narrower than the $2.3 billion posted a year earlier.

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