Philippines' overall balance of payment position posts US$80mil surplus in June

MANILA (Xinhua): The Philippines' overall balance of payments (BOP) position posted a surplus of US$80 million in June, a reversal from the $404 million BOP deficit recorded in the same month last year, the Philippine central bank said on Friday (July 31).

In a statement, the Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in June 2020 reflected mainly the inflows from the national government's foreign loan proceeds that were deposited with the BSP as well as the BSP's income from its investments abroad.