December quarter CAD narrows to 1.2 percent of GDP
“The current account deficit narrowed in Q4 despite a wider merchandise trade deficit, cushioned by a record high services trade surplus and secondary income” Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays. “ Positive FDI and FPI flows kept the BOP in surplus. We expect current account financing needs to remain manageable this fiscal year and next.”
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