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​The Philippines spent far more of its foreign currency assets than it earned them in September, resulting in an overall balance of payments (BOP) deficit of USD414 million in September.

The World Bank who in September this year recalculated the country's growth path at a slower pace of 5.7 percent in terms of local output expansion, has trimmed its forecast further to 5.6 percent.

President Ferdinand Marcos Jr. stalled the rapid push to bring to life the Maharlika Investment Fund, seeking more time to review the details of the implementing rules and regulations, or IRR, to ensure safeguards are in place.

Asia and Pacific countries like the Philippines are seen collectively pushing local output growth, measured as the gross domestic product (GDP), averaging higher than global output growth at 4.6 percent this year, according to the latest Regional Economic Outlook published by the International Monetary Fund (IMF).

Investment pledges approved by the Board of Investments in the first nine months of this year has more than doubled to P734 billion from the year-earlier period, bolstered by gains from the foreign visits of President Ferdinand Marcos Jr., a trade and industry official said Tuesday.