Philippine central bank tempers outlook as it cuts 2021 current account surplus forecast

MANILA, Sept 17 (Reuters): The Philippine central bank on Friday revised its current account surplus projection for this year to $3.5 billion, or 0.9% of the gross domestic product, down substantially from a June forecast of $10 billion, or 2.5% of GDP.

It now projects next year's current account to switch to a deficit of $1.4 billion, or 0.3% of GDP, instead of the previous forecast of a $6.7 billion surplus equivalent to 1.5% of GDP, figures presented at a media briefing showed.