CBRT announced the balance of payments statistics for July. Accordingly, in July, the current account deficit increased by 1193 percent compared to the same month of the previous year and reached 4 billion 10 million dollars.
The market expectation was that the current account deficit would reach 3.7 billion dollars in July.
According to the CBRT data, the increase in the current account deficit and the foreign trade deficit defined in the balance of payments increased by 6 billion 162 million dollars compared to the same month of the previous year and rose to 9 billion 308 million dollars. Current account, excluding gold and energy, posted a surplus of 3 billion 124 million dollars in the same month of the previous year, while it gave a surplus of 3 billion 737 million dollars this month.
7-MONTH INCREASE 168 PERCENT
With the July data, the current account deficit in the first 7 months of 2022 increased by 168 percent compared to the same period of the previous year and reached 36 billion 672 million dollars.
According to the CBRT data, in July, there was an inflow of 5 billion 473 million dollars of uncertain origin. The entries defined as net errors and omissions reached 24 billion 347 million dollars in the first 7 months.
Official reserves increased by 4 billion 423 million dollars in July. In the first 7 months of the year, there was a decrease of 7 billion 925 million dollars in reserves.