Philippines posts $196 million balance of payment deficit in February

MANILA — The Philippines’ overall balance of payments (BOP) position hit a deficit of $196 million in February from a deficit of $895 million a year ago, the central bank said on Tuesday.

Cumulative BOP level at end-February was at a $936 million deficit. The Philippine central bank has a $700 million BOP surplus forecast for 2024.

— Reporting by Mikhail Flores; Editing by Kanupriya Kapoor