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BOP gap swells to over 2-year high
The Philippine Star|December 20, 2024
The country's balance of payments (BOP) deficit swelled to the highest level in over two years in November as the national government paid its external debt, according to the Bangko Sentral ng Pilipinas.
- - Keisha Ta-asan

BSP data showed that the country recorded a BOP shortfall for the second straight month at $2.28 billion in November, 10.5 times higher than the $216-million deficit recorded in the same month last year.

The BOP gap marked the biggest in 26 months or since the $2.34-billion deficit recorded in September 2022.

"The BOP deficit in November reflected the national government's net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures, and the BSP's net foreign exchange operations," the central bank said.

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BOP gap swells to over 2-year high
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Denne historien er fra December 20, 2024-utgaven av The Philippine Star.

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