Current account deficit to narrow but risks remain

Jun 27, 2024 12:28 am

THE Philippines' current account deficit will likely narrow this year given better external demand prospects, a Fitch Group unit said.

BMI Country Risk & Industry Research revised its 2024 current account deficit forecast to 2.3 percent of gross domestic product (GDP) from 2.8 percent previously. This is, however, still significantly larger than the 0.4 percent average for 2015 to 2019 revising its forecast downwards.

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