The Philippines' central bank is forecasting a smaller current account deficit over the next couple of years—basically, the gap between what the country spends abroad versus what it earns is expected to shrink. It’s a sign that trade imbalances might be easing, though details on what’s driving the improvement (like stronger exports or lower imports) aren’t spelled out here.

Editor’s Note: A narrower deficit could mean less pressure on the peso and fewer economic headaches down the line, but it’s not all confetti and balloons—it depends on why it’s happening. If it’s because exports are picking up, great! If it’s because Filipinos are cutting back on spending (even essentials), that’s rougher. Either way, it’s a key health check for an import-heavy economy.