DBS raises PH current account deficit forecast

Singapore-based bank DBS expects the Philippines to post a higher current account deficit this year and the next but notes that the economy has enough buffers to counter the impact.

“We revised up our current account deficit forecast for 2017 and 2018 to 0.6 percent and 1.1 percent of GDP (gross domestic product) respectively, from our previous estimates of 0.3 percent and 1 percent,” it said in a report released during the weekend.