Experts say current account deficit to reach USD 3.7bn
2011-01-27 17:33:02
In Ukraine, the current account deficit will total USD 3.7 billion at end-2011, according to a forecast contained in a review by analysts ING Bank Ukraine.
The report also says that a preliminary assessment of the balance of payments, according to the National Bank of Ukraine, indicates that the current account deficit by the end of 2010 totaled USD 2.5 billion, or 1.9% of GDP, which practically corresponds to the forecast of ING Bank Ukraine experts at USD 2.6 billion
According to experts of the bank, the largest impact on the current account in 2010 had a negative balance of foreign trade.
The bank noted that despite the expectation of further growth in exports, a significant growth of imports against a background of increasing domestic consumer and investment demand will have a corresponding impact on the overall current account balance.