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Total BoP surplus equals USD 0.7 bln in July

Total BoP surplus equals USD 0.7 bln in July

27 August 2010

Ukraine’s balance of payments totaled USD 0.7 bln in July, the State Statistics Committee reported. The current account ran a deficit of USD 255 mln, virtually unchanged vs. the deficit of USD 267 mln in July 2009. Over 7M10, the current account surplus equaled USD 24 mln. The financial account, in turn, posted a USD 1 bln surplus (a significant improvement from the deficit of USD 0.7 bln in July 2009), with the total surplus over 7M10 totaling USD 5.1 bln. Mykyta Mykhaylychenko: We expect the total BoP in 2010 to post a double surplus, contributing to UAH exchange rate stability: the current account will be positive by some USD 0.5 bln (0.4% of GDP) and the financial account – by USD 6-7 bln (4.5%-5.3% of GDP).

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