ARTICLE SERVICES            Reprint this article     Print this article       Send as an e-mail     Send Feedback       Post a comment       RELATED STORIES   Senate to probe BIR for taxing sugar co-ops -- Mar Roxas World stocks rise over 1% on Lehman hopes Peso bounces back Too much information? The buzz started last night with a Manila Bulletin article on the President checking into the Asian Hospital in Alabang for some cosmetic procedures. Take a look at a scr ...More S&P affirms RP ratings, stable outlook Banks still get to boost lending Thrift bank up for sale BSP ready to act to counter downturn Focus backs out of Tindalo venture BSP wants cover for forex losses GMA 7 expanding overseas IPP contracts sale pushed Mobile money exchange scheme launched Lodestar, OVMPC sign deal More Stories » Business Aim to retire with no debts PLDT taps Meralco for new venture Corporate war comes to Philex RCBC bent on expansion EDC to raise P18B more April exports fall 35.2% on year Wall Street crook to earn pennies Piltel transforms into holding firm Plan your fun-spending this summer Money lessons you won't learn in class Business GMA 7 expanding overseas New mobile network offers lowest call rate Thrift bank up for sale BSP wants cover for forex losses S&P affirms RP ratings, stable outlook Focus backs out of Tindalo venture Mobile money exchange scheme launched MetroPac heats up race for SCTEx Hope for the farmers in 2010 QC judge told issue arrest order vs PBA cager Banks still get to boost lending Lodestar, OVMPC sign deal   Business Most Read RSS Diamond Hotel Philippines Look for: Lourdes Vera Cruz Tel. No.: 528.3000 loc. 8414 Mobile: 0915.434.3010 (Lourdes) Global Investor's Club Learn how to invest in the Global Market today!

MANILA, Philippines –The Bangko Sentral ng Pilipinas, the country’s central bank, said on Friday that the country's balance of payments should reach a surplus of $2.0 billion by the end of the year, scaling it down from a previous estimate of $2.5 billion.

Governor Amando Tetangco told reporters that the surplus at the end of 2009 should be $2.3 billion.

He ascribed the downward revision to higher prices of oil, but said remittances from Filipinos working abroad would offset some of these effects.

The Philippines imports almost all its oil needs.

• Senate to probe BIR for taxing sugar co-ops -- Mar Roxas
• World stocks rise over 1% on Lehman hopes
• Peso bounces back

• S&P affirms RP ratings, stable outlook
• Banks still get to boost lending
• Thrift bank up for sale
• BSP ready to act to counter downturn
• Focus backs out of Tindalo venture
• BSP wants cover for forex losses
• GMA 7 expanding overseas
• IPP contracts sale pushed
• Mobile money exchange scheme launched
• Lodestar, OVMPC sign deal