The decreasing current account deficit has been reported to strengthen macro-financial stability, contributing to the disinflation process. In August 2024, the positive developments in the current account balance continued, with a surplus of $4.32 billion. This improvement is supported by the reduction in the foreign trade deficit and the positive contribution of the services balance.
The annualized current account deficit has decreased to $11.25 billion, a situation attributed to favorable macroeconomic and financial indicators. These figures showcase the effectiveness of the Government’s Economic Program, which predicts a continued reduction in the current account deficit due to improvements in the foreign trade deficit and increased service revenues.
Officials expressed confidence in achieving their target of a 1.7% ratio of the current account deficit to national income by the end of 2024.