RP's BOP surplus narrows

RP's BOP surplus narrows

MANILA (AFP): The Philippines' balance of payments surplus
narrowed to US$80 million in January compared with $175 million
in the same period last year, the Central Bank said yesterday.

The current account position deteriorated with a $300 million-
deficit, from a $34 million surplus in January 1993 due mainly to
a near doubling of the merchandise trade deficit to $697 million.

Medium- and long-term loans posted a net inflow of $179
million, along with foreign investments with a balance of $84
million.