Current-account deficit hits $2.5 billion in February
The current-account deficit reached $2.53 billion in February, in line with market expectations. According to data released by the Central Bank on April 11, the current account deficit was recorded at $5.29 billion in the first two months of the year, bringing the 12-month deficit to $33.75 billion. “The increase in the foreign-trade surplus in the balance-
of-payments table by $420 million to $3.11 billion and the decrease in net revenues, driven by services balances, by $232 million to $578 million were factors in this development,” the bank said. The increase in energy prices and declining tourism revenue are expected to continue, pushing up the currentaccount deficit.