Philippines posts US$756mil balance of payments deficit in Nov; extends tariff cuts on imported rice, other food items to fight inflation

MANILA, Dec 24 (Reuters): The Philippines' overall balance of payments (BOP) position hit a deficit of US$756 million in November, compared with the US$123 million deficit recorded in the same month last year, the central bank had announced.

Cumulative BOP deficit for January to November was $7.9 billion, a reversal from the $353 million surplus recorded in the same period a year ago, it said in a statement. (by Enrico Dela Cruz)