Current account posts USD 1.71bn deficit in April

The current account balance posted a deficit of some USD 1.71bn in April, down by USD 3.58bn from the same month last year, according to the Central Bank.

According to the balance of payments figures released by the bank, the country’s 12-month rolling deficit totaled around USD 32.7bn.

In March, the current account posted a USD 3.33bn deficit.

“This development is mainly driven by USD 2.3bn decrease in the goods deficit compared to same month of the previous year recording USD 1.5bn, as well as USD 811m net inflow in services item, which was observed as USD 339m net outflow in the same month of the previous year,” a Central Bank statement said.

It said that excluding gold and energy, the current account indicated USD 942m surplus, compared to USD 3.55bn deficit in the same month last year.

Travel items under services saw a net inflow of USD 596m.

The bank also said direct investments recorded net inflows of USD 56m during the month.​​​​​​​

Leave a Reply

Your email address will not be published.