Thank you for the opportunity to help you with your question!
Philippine B.O.P in 2014 ended in deficit from a previous forecast of a surplus . B.O.P deficit amount in 2014 was 3.4 billion compared to the previous surplus amount of 1.1 million .The deficit remained constant. Governor Amando mentioned that dominant factors that caused the deficit was external in nature .
> Monetary policy affected the financial markets in Philippine ( dominant factor.)
Other factors would include ;
> Decline in firms competitiveness due to inflation.
>Fixed exchange rate .
>Importing more and exporting less .
> Payment of debt service .
Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 20th, 2015
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