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Current account deficit flagged
Manila Bulletin
|June 19 2025
The Philippines is facing a growing dollar earnings or current account, placing it in the middle of the pack in the latest macro risk assessment of 27 key emerging markets (EMs) by DBS Bank Ltd.
In a June 17 report authored by DBS senior economist Han Teng Chua and data analytics analyst Daisy Sharma, the Philippines ranked 11th overall among the 27 EMs included in the Singapore-based bank’s annual country risk heatmap for 2024—a notch higher than 12th place in 2023.
The Philippines ranked fifth in 2016; first in 2017; fifth again in 2018 and 2019; and second in 2020. It slid to eighth place in 2021 and fell further to 10th in 2022.
“Within ASEAN [the Association of Southeast Asian Nations], the Philippines and Thailand have dropped, due to weaker public finances and savings-investment balances,” DBS explained.
This story is from the June 19 2025 edition of Manila Bulletin.
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