The reforms pursued by the BSP, along with banks’ commitment to improve their ability and capacity to manage risks have resulted in significant improvements in the quality of bank assets and capital. In terms of the country’s overall external payments position, the balance of payments as of the first eight months of 2017, posted a deficit of $ billion.
This is sustainable and represents less than one percent of GDP. This can be readily financed. The balance of payments deficit can be attributed, in part, to stronger growth in imports as the 1/4  BIS central bankers' speeches  economy continues to expand rapidly and ramps up investments.