Philippine central bank sees wider current account surpluses on economic recovery

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MANILA, June 19 (Reuters): The Philippines is expected to post bigger current account surpluses for this year and 2022, the central bank said on Friday, due to better prospects for trade in goods and services as the global economy recovers from the pandemic shock.

The central bank raised its 2021 projection for the current account surplus to US$10 billion, or 2.5% of gross domestic product (GDP), from its previous forecast of US$9.1 billion, or 2.3% of GDP.