The Balance of Payments sustains surplus at $896 Million in October, despite the global economic crisis.
Bangko Sentral ng Pilipinas records show that as of June 2009 BOP surplus reaches $2.2-billion attributed mainly to the strong remittance from the Overseas Filipino Workers.
As a result, cumulative remittances for the nine-month period increased by 4.2 percent to reach US$12.8 billion.
The Balance of Payment or BOP is the method countries use to monitor all international monetary transactions at a specific period of time calculated either quarterly or yearly.
Meanwhile, External Debt situation has also improved. As of June 2009, outstanding external debt is $51.8-billion down by 5.4 percent compared to the level registered on the same period in 2008, BSP data revealed. (PIA/EAD)