Trade deficit stood at USD 1bn.
According to OCBC Daily Treasury Outlook, Philippines' import growth jumped to 7.4% yoy in April, leading to a trade deficit of USD 1bn in the month.
Here's more:
Meanwhile, Economic Planning Secretary Balisacan said that recent market selloff is only temporary and not significant to alter the country’s economic prospects. GDP growth is still expected within the 6-7% target.
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