Page 34 - UKRRptDec19

machinery imports stayed strong, surging 19.4% y/y in October.
The financial account surplus contracted to $0.5bn​ from $1.2bn in September. In particular, net foreign currency outflow from the banking sector amounted to $145mn (vs. net inflow of $225mn in September). In addition, the purchase of foreign currency by the population in October rose to $541mn (from $287mn in September).
Ukraine’s balance of payments switched to a $146mn deficit in October
from a $60mn surplus in September. In 10M19, the balance of payments surplus amounted to $2.1bn (vs. a $0.3bn deficit in 10M18).
“The slow growth of merchandise imports – amid dropping spending on energy imports – is keeping C/A deficit growth in moderation. Meanwhile, the growth of merchandise exports slowed down owing to weakening grain exports,” Evgeniya Akhtyrko of Concorde Capital said in a note. “We are improving our 2019 C/A deficit forecast, revising it downward to $4.5bn from $5.4bn, mainly because of the lower-than-expected growth of merchandise imports.”
34​ UKRAINE Country Report​ December 201 ​ ​www.intellinews.com