High diamond exports extend trade surplus
Thursday, August 24, 2017
Total exports for that month were valued at P5.38 billion, showing an increase of 41.5% from the April 2017 value of P3.80 billion.
According to SB, the increase is mainly due to a rise of 41.3% in diamond exports, from P3.53 billion in April 2017 to P4.99 billion in May 2017.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...