The central bank data suggested that the authorities concerned had revised up the current account
deficit for the prior fiscal year 2017-18 twice during FY19.
if such a current account
is sustainable or not," he said, adding that the current account
balance is financiable because of the expected inflows in the foreign direct investment (FDI) account and in the foreign portfolio investment.
Month on Month (MoM) basis, during April 2019, current account
deficit was recorded to $1.24 billion as compared to $871 million in March 2019.
Beltran said there is a need to keep not only the current account
deficit, but also the budget deficit, low by maintaining interest rates at an optimal level that would raise both savings and investments.
This improvement in the current account
deficit was mainly due to increase in remittances by 12.6 percent, deceleration in imports by 2.9 percent which reflects the impact of policy measures taken by the government.
The government's announcement that the current account
woes are over does not seem to hold, especially since no inflow of the promised $3bn from Saudi Arabia has materialised yet while details regarding the IMF and Chinese packages are still to be finalised.
The current account
surplus of the country's oil and gas sector completely covers the deficit of the non-oil sector totaling $5.7 billion, which is $56 million less than in 2016.
The place to start is with financial flows, not with the current account
Global Banking News-June 30, 2017--Watchdog warns UK banks against closing current accounts
MORE current account
customers have been ditching and switching their bank following a wave of providers cutting rates or reducing perks on their accounts.
Summary: Current account
deficit widened to 13.3% of GDP in 2016 from 12.0% in 2015, increasing 13.6% y/y in nominal terms to US$ 1.9bn, according to NBG.