Current Account Deficit Shrinking
27 June 2008
The current account deficit is shrinking, to USD 100 mln in May from USD 180 mln in April and a peak of USD 400 mln in March, according to preliminary data announced today by the national bank. The current account deficit in 1Q06 was USD 743 mln.Concorde Capital: This data confirms that the recovery of the steel industry is helping the trade balance, but there is still a significant trade deficit (the current account deficit is helped by current transfers, which are always positive).
