The Philippines’ government budget deficit expanded slightly to 106.4 bln pesos in February 2023 compared to 105.8 bln in the same period last year. From January to February 2023, the country’s budget gap narrowed to 60.6 bln pesos from 129.2 billion in the same period in 2022. Separately, Sri Lanka current account shifted to a surplus of USD 119.6 mln in the fourth quarter of 2022 from a USD 1139.5 mln deficit in the same quarter of the previous year.