The National Bank Announces Reassuring Macro Figures For 5M07.
26 July 2008
The trade balance deficit, as calculated by the National Bank (NBU), of USD 2.7 bln in 5M07 was mitigated by significant somewhat by the growth of capital inflows, and the current account deficit grew to USD 1.9 bln (5.3% of GDP). The positive balance of financial and capital accounts of USD 4.3 bln in 5M07 not only covers the current account deficit, but allows the NBU to increase its reserves. The NBU reported that in 1H07 its foreign currency reserves reached USD 25.89 bln (+16.3% YTD), covering 4.8 months of imports. According to the preliminary data FDI inflow in 5M07 amounted to USD 2.1 bln.
