An economist forecasts a sustained rise of the country’s balance of payment (BOP) surplus which rose to USD6.88 billion in end-September, benefiting the peso and the foreign reserves.
The Bangko Sentral ng Pilipinas (BSP) on Monday reported that BOP surplus last September amounted to USD2.1 billion, higher than month-ago’s USD657 million surplus and year-ago’s USD38-million surplus.
The surplus in the first nine months this year is also higher than year-ago’s USD5.57 billion.
The BOP refers to a country’s total transactions with the rest of the world in a given period. A surplus results if a country exports more than it imports, among others.