BSP projects USD4 billion 2025 deficit, USD4.3 billion 2026 deficit

The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments projection for 2025, predicting a USD4 billion deficit due to global economic uncertainties. Despite this, domestic growth driven by private consumption and government infrastructure spending is expected to mitigate external pressures.

For 2026, the BSP forecasts another USD4.3 billion deficit attributed to slower global trade and decreased investor confidence. Goods export growth for 2025 is projected at 1%, rising slightly to 2% in 2026, while imports are expected to grow by 4% annually over these years.

Overseas Filipino remittances are anticipated to grow below the long-term trend due to workforce localization policies in key host countries like Saudi Arabia and Qatar.