Philippines posts 2.61 bln USD balance of payments surplus in April
Xinhua
27 May 2021, 19:55 GMT+10
MANILA, May 27 (Xinhua) The Philippines overall balance of payments (BOP) recorded a surplus of 2.61 billion U.S. dollars in April, higher than the 1.67 billion U.S. dollars BOP surplus recorded in the same month last year, the Philippine central bank said. The Bangko Sentral ng Pilipinas (BSP) attributed the BOP surplus in April to inflows arising mainly from the national government s bond issuance deposited with the BSP. In a statement released on Wednesday, the BSP said the BOP surplus in April reduced the cumulative BOP deficit for January-April to 231 million U.S. dollars.
milli billion. that s if the white house gets everything they want. $11 billion is a drop in the bucket when we talk about federal spending. it d be less than 0.3% of the federal budget of this year s p deficit, likely to rub some fiscal hawks in congress the wrong way. they re already rubbed the wrong way on this one. so where would the spending cuts come from? certainly not from the omnibus bill itself, which mandates the extra spending trump doesn t like. instead, the plan is to cut what is known as the budget authority of certain federal agencies. that s basically how much money they re given permission to spend, and the federal agencies are likely to fight to keep all of it. but here s the kicker the planned targets unspent funds that were approved in the past. so basically they re cutting funds that were unlikely to be spent in the first place. for more, i m joined by my old friend sam, professor of public