Current account deficit drops in H1

[Mage]

Current account deficit drops in H1
FE Online Report | Published: February 02, 2019 17:53:56 | Updated: February 03, 2019 10:48:40

Current account deficit dropped significantly in the first half (H1) of the current fiscal year (FY19), according to the latest statistics of the central bank.

It showed that current account deficit stood at $3.08 billion in July-December period of FY19 (or 2018) while the amount was $5.06 billion in the same period of FY18.

“During H1FY19, current account deficit is moderating, driven by lower import growth (5.7 per cent up to December, 2018) and expected to continue, improving the current account dynamics,” the central bank said in its latest monetary policy statement released on Thursday.


It also projected that current account deficit might come down to $6.38 billion in the current fiscal year which was $9.70 billion in FY18.

“Current account deficit is expected to moderate to below 2.0 per cent of GDP, in line with the sustaniable norm for an emerging market economy at Bangladesh’s current phase of development,” it said.

“Higher exchnage rate flexibility could provide additional support to the ongoing moderation of current account deficit,” it added.

https://thefinancialexpress.com.bd/economy/current-account-deficit-drops-in-h1-1549108436

 

[Mage]

It showed that current account deficit stood at $3.08 billion in July-December period of FY19 (or 2018) while the amount was $5.06 billion in the same period of FY18.

That's a 40% drop, very encouraging. Exports are doing really good after some years of stagnate growth.

BB projects lower trade deficit in FY19
FE Online Report | Published: February 02, 2019 13:08:37 | Updated: February 03, 2019 09:23:16

The Bangladesh Bank seal is pictured on the gate outside the central bank headquarters in Motijheel, the bustling commercial hub in capital Dhaka. FE Photo
Bangladesh Bank has projected that deficit on merchandise trade in the country would drop moderately in the current fiscal year (FY19).

In its outlook on Balance of Payments (BoP), the central bank has mentioned that merchandise trade gap may reach $17.27 billion in the current fiscal year, which was $18.26 billion in the past fiscal year.

The outlook was unveiled in the latest monetary policy statement on Wednesday.


Trade deficit during the first five months of the current fiscal year, however, stood at $6.66 billion, according to the central bank statistics.

It also showed that current account deficit might come down to $6.38 billion in the current fiscal year, which was $9.70 billion in FY18.

At the same time, deficit in service trade stood at $1.26 billion.

Bangladesh Bank has further projected that gap in service trade would came down to $3.53 billion in the current fiscal year, which was $4.57 billion in FY18.

“Current account deficit is expected to moderate to below 2 percent of GDP, in line with the sustainable norm for an emerging market economy at Bangladesh’s current phase of development,” it said.

“Higher exchange rate flexibility could provide additional support to the ongoing moderation of current account deficit,” it added.

https://thefinancialexpress.com.bd/economy/bb-projects-lower-trade-deficit-in-fy19-1549091317

 

[GHALIB]

Current account deficit drops in H1
FE Online Report | Published: February 02, 2019 17:53:56 | Updated: February 03, 2019 10:48:40

Current account deficit dropped significantly in the first half (H1) of the current fiscal year (FY19), according to the latest statistics of the central bank.

It showed that current account deficit stood at $3.08 billion in July-December period of FY19 (or 2018) while the amount was $5.06 billion in the same period of FY18.

“During H1FY19, current account deficit is moderating, driven by lower import growth (5.7 per cent up to December, 2018) and expected to continue, improving the current account dynamics,” the central bank said in its latest monetary policy statement released on Thursday.


It also projected that current account deficit might come down to $6.38 billion in the current fiscal year which was $9.70 billion in FY18.

“Current account deficit is expected to moderate to below 2.0 per cent of GDP, in line with the sustaniable norm for an emerging market economy at Bangladesh’s current phase of development,” it said.

“Higher exchnage rate flexibility could provide additional support to the ongoing moderation of current account deficit,” it added.

https://thefinancialexpress.com.bd/economy/current-account-deficit-drops-in-h1-1549108436

very nice show.