The decrease in the current account deficit will be facilitated by a reduction in import volumes in the machinery sector, while export volumes and remittances will remain stable.
By 2028, it is projected that the current account deficit will decrease to 12% of gross domestic product.
The EFSR also notes that the overall forecast for foreign exchange reserves remains unchanged — averaging 5.9 months of imports, which is attributed to a favorable price situation and active purchases of monetary gold by the National Bank.
Note:
The current account deficit characterizes a situation where a country's spending on imports of goods and services, as well as income payments, exceeds its revenues from exports. This indicates that national expenditures surpass savings and are often covered by external borrowing, asset sales, or foreign investments.
