February BOP surplus surges to two-year high
MANILA, Philippines (Xinhua) - The balance of payments surplus surged to an almost two-year high in February, the central bank (Bangko Sentral ng Pilipinas) said today.
A BOP surplus of $985 million was recorded February, up 186 percent from the $345 million seen in the same period last year. It is the highest monthly surplus recorded following the $1.099 billion in July 2013.
The February figure brought the two-month tally to a surplus of $1.121 billion, a reversal of the $4.135-billion deficit in the same period last year.
The BOP ended in a deficit in 2014 after nine consecutive years in surplus. The data showed a BOP deficit of $2.879 billion for last year, a turnaround from the $5.085-billion surplus in 2013.
For this year, the BSP has forecast the BOP to return to a surplus of $1 billion.
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