Additional fallout from the Russia-Ukraine struggle may contribute to a widening steadiness of funds (BOP) deficit within the Philippines, which was pegged at $1.57 billion in June.
The Bangko Sentral ng Pilipinas (BSP) stated on Wednesday the June BOP deficit ballooned from $312 million in the identical month of 2021, however narrowed barely from $1.6 billion in Might.
This was the third straight month that the Philippine BOP place pointed to a deficit, for the reason that $415 million recorded in April.
The BOP deficit in June 2022 mirrored outflows arising primarily from the nationwide authorities’s funds of its international forex debt obligations.
Within the first semester this 12 months, the BOP rested at a def…
Carry on studying: BSP recorded more dollar outflows from PH in June