Wednesday 19 December 2018
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inquirer - 3 month ago

2018 current account deficit seen widening to $7.7B- $9.8B

The Philippines may incur a shortfall of as much as $9.8 billion in its economic transactions with the rest of the world this year, over three times larger than the level at which the Bangko Sentral ng Pilipinas aims to cap the current account deficit, a top economist from ING Bank said. This deterioration in the country s current account position is seen as a big drag on the peso, which is already trading at its 13-year lows against the dollar. In the first half, the country s current account posit

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