MANILA (Reuters) – The Philippine central bank said on Friday it expects the country’s current account balance to register deficits equivalent to 5.0% and 4.5% of gross domestic product in 2022 and 2023, respectively, wider than the previous projections.
The Bangko Sentral ng Pilipinas said the revisions took into account intensifying risks of a global growth slowdown amid rising inflation and interest rates and the recovery momentum seen for the domestic economy.
(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Ed Davies)
