Balance of payments back to surplus in May

The balance of payments position returned to a surplus in May, ending six consecutive months of deficits, according to Philstar Biz. The turnaround was attributed to oil price rollbacks and steady dollar inflows that eased pressure on the country's external accounts.

The surplus marks a shift from the previous months of shortfalls, which had raised concerns about the economy's vulnerability to external shocks. Analysts noted that lower global oil prices reduced import costs, while remittances and foreign investments provided a consistent source of dollars.

The improved balance of payments could help stabilize the peso and bolster the central bank's reserves, providing a buffer against future economic volatility. The data comes as the government continues to monitor external trade and capital flows.