The Philippines' balance of payments (BOP) surplus widened to $3.4 billion in June, the largest in nearly two years, according to Philstar Biz. The improvement was attributed to government foreign borrowing and lower global oil prices.
The surplus marks a significant turnaround from the same period last year, reflecting stronger external inflows and reduced import costs. The central bank's data showed that the BOP position was bolstered by net foreign currency deposits and gains from the national government's offshore fund-raising activities.
Economists view the widening surplus as a positive sign for the peso and overall economic stability, though they caution that sustained global oil price volatility could temper future gains. The BOP surplus provides a buffer against external shocks and supports the country's foreign exchange reserves.