Philippines posts 740 mln USD deficit in January

MANILA, Feb. 20 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 740 million U.S. dollars deficit in January 2024, a reversal from the 3.1 billion dollars BOP surplus recorded a year ago, the country's central bank has said.

The Bangko Sentral ng Pilipinas (BSP) said on Monday that the BOP deficit in January reflected outflows arising mainly from the national government's payments of its f