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DAILY BRIEF
MCT DAILY BRIEF
A WIDER PAYMENTS DEFICIT, FLOOD-CONTROL REMOVALS AND A WEAKER PESO
Good morning.
The Philippines recorded a wider balance-of-payments deficit in September. Three Davao public-works officials have been removed during a flood-control investigation. The peso has also set another reported record-low close.
Here are five stories to follow this morning.
Reporting cutoff: October 20, 2026, 6:00 a.m. Philippine time.
1
SEPTEMBER PAYMENTS DEFICIT REACHES $3.144 BILLION
The BSP's latest table records a $3.144-billion balance-of-payments deficit for September, compared with $596 million in August. The January-to-September total was a $9.087-billion deficit. Reuters also reported the September figures on Monday. [BSP balance-of-payments table](https://www.bsp.gov.ph/Statistics/external/bop_pos.pdf) [Reuters](https://interaksyon.philstar.com/trends-spotlights/2026/10/19/320733/philippines-billion-balance-payment-deficit-september/)
The balance of payments records the country's transactions with the rest of the world. This is not the government's budget deficit, and the number does not mean the country has run out of money. It is a different measure from the peso's exchange rate.
These are figures for September and the first nine months of the year, not a running total for today. A wider deficit calls for a closer look at the transactions behind it, rather than treating the headline as proof of a single cause.
WHAT TO WATCH
the BSP's next release, revisions to the figures, and its fuller account of the money entering and leaving the country.
2
THREE DAVAO PUBLIC-WORKS OFFICIALS REMOVED
Public Works Secretary Vince Dizon has removed three Davao officials from their posts amid the NBI investigation into allegedly anomalous flood-control projects. GMA identifies them as District Engineer Richard Ragasa, Assistant District Engineer Lilibeth Sarmiento and Construction Chief Roberto Mamaril. [GMA Integrated News](https://www.gmanetwork.com/news/topstories/regions/1006348/dpwh-davao-officials-sacked-amid-probe-into-flood-control-projects/story/)
The move follows the NBI's filing of a complaint at the DOJ involving officials of Genesis88 Construction Inc. and unidentified respondents. That complaint and the personnel removals are separate steps. Neither is a court finding that the accused committed graft.
Residents still need to know whether the projects were built properly, whether they protect communities from flooding, and whether anyone must repair or pay for defective work.
WHAT TO WATCH
the written removal orders, the DOJ proceedings and project-by-project inspection findings.
3
PESO CLOSES AT A REPORTED RECORD LOW OF ₱63.09
The peso closed Monday at ₱63.09 to the US dollar, according to market reporting. That is Monday's closing rate, not a live quotation for this morning. A bank or remittance service may also offer a different rate after its fees and exchange-rate spread. [BusinessMirror](https://businessmirror.com.ph/2026/10/20/peso-slumps-to-new-record-low-as-global-oil-prices-rise/)
A weaker peso means businesses buying imported goods and households paying dollar-priced expenses need more pesos to cover the same dollar bill. Families receiving dollars may get more pesos, but that does not settle whether their overall budget is better off.
Not every retail price changes overnight, and the exchange rate is not the only cost businesses face.
WHAT TO WATCH
the next trading session and the BSP's upcoming policy decision. A predicted rate increase is not an announced decision.
4
ROMMEL SUPANGAN NAMED COAST GUARD COMMANDANT
President Ferdinand Marcos Jr. has chosen Vice Admiral Rommel Supangan to lead the Philippine Coast Guard, replacing retiring Admiral Ronnie Gil Gavan, according to Malacañang's announcement reported by PNA on Monday. [PNA: Coast Guard appointment](https://www.pna.gov.ph/article/rommel-supangan-named-new-pcg-commandant)
Supangan previously held leadership posts in the Coast Guard Fleet, Marine Environmental Command, and Strategic Studies and International Affairs Center.
The appointment changes who leads the service. It does not, by itself, add ships, crews or rescue equipment. The public test will be the work: protecting people at sea, responding to emergencies and keeping maritime operations ready.
WHAT TO WATCH
Supangan's stated priorities, the resources behind them and updates that show what the service is getting done.
5
VENA ENERGY'S EXPANSION IS A PROJECT PIPELINE, NOT ALL OPERATING POWER
DTI says Vena Energy's planned ₱245-billion Philippine expansion includes about 2.6 gigawatts of renewable capacity under construction or contract. PNA's Monday report breaks that into 1.3 GW under construction and another 1.3 GW contracted, separate from the company's existing operational capacity. [PNA: Vena Energy expansion](https://www.pna.gov.ph/article/vena-energy-expansion-to-add-26-gw-renewable-capacity-in-ph)
The plans were presented during an October 11 meeting in Singapore. This is not a claim that 2.6 GW switched on yesterday.
Projects still need to be completed and connected before their output can serve customers. The announcement gives no household bill reduction that readers can calculate.
WHAT TO WATCH
completion dates, grid connections, actual output and the terms under which the power will be sold.
BOTTOM LINE
That is the brief this morning. Follow what the records show, what has actually changed, and what still needs an answer.
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