The foreign currency is being moved out of Ukraine

The foreign currency is being moved out of Ukraine

The balance of payments deficit has increased. In October the deficit of the consolidated balance of payments amounted to $492 million, which is almost five times greater as compared to September indicators.

This figure displays the ratio of the amount of incoming receivables obtained by the country from abroad to the sum of the payments transferred abroad. It consists of two accounts: current and financial. The first one reflects mainly the movement of goods and services, the second one shows the investment and capital flows. Accordingly, the negative balance indicates that the runoff of the foreign currency abroad exceeds its arrivals.

According to the data of the National Bank, in August the deficit of the current account amounted to $1.9 billion due to the predominance of import of goods over their export that was by $260 million less than in September. But at the same time, the financial account decreased from $1.9 billion to $1.4 billion.

Let us remind you, that during the first five months of the current year the balance of payments has been positive. The largest surplus of $1.3 billion was recorded in February. However, in June the balance dropped immediately to minus $1.1 billion and stayed negative ever since.

Ольга Бузыка


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