CAD DOWN IN APRIL
The current account deficit (CAD) fell from USD 3.5bn to USD 1.7bn in April, compared to the same month of the previous year, according to the Central Bank. The decrease stemmed from the return of the tourism income outlook to positive and a relative slowdown in imports. The 12-month rolling CAD reached USD 32.7bn in this period. Excluding gold and energy, the current account posted a deficit of USD 3.5b in April 2020 compared to a USD 942m surplus in April 2021. The net direct investment inflow totaled USD 56m while net outflows in portfolio investments amounted to USD 1.5bn in April. •fficial reserves dropped by USD 1.1bn in this period.