BSP raises GIR target to $83B this year

The Bangko Sentral ng Pilipinas (BSP) raised the projected foreign exchange buffer to $83 billion instead of $77 billion this year as it expects strong inflows of foreign portfolio investments as well as foreign direct investments. As a result, the BSP now expects the Philippines to book a balance of payments (BOP) surplus of $3.7 billion instead of a deficit of $3.5 billion this year.

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