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The amount of dollars spent by the Philippines will outstrip its total dollars earnings by a significantly higher gap this year than government planners' already pessimistic projections, the latest data from the Bangko Sentral ng Pilipinas revealedPH’s 2018 dollar outflow blows through BSP’s worst-case forecast
The amount of dollars spent by the Philippines will outstrip its total dollars earnings by a significantly higher gap this year than government planners' already pessimistic projections, the latest data from the Bangko Sentral ng Pilipinas revealed on Friday. In a press briefing, BSP officials said that they expect the country's balance of payments ---the aggregate net value of all transactions between the local economy and the rest of the world---to end 2018 at a deficit of $5.5 billion. This marks a 266-percent increase in the expected net dollar outflows from the $1.5-billion yearend deficit the central bank projected just six months ago which was, ...Keep on reading: PH’s 2018 dollar outflow blows through BSP’s worst-case forecast Read more