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carry out phytosanitary and veterinary control as the primary cause.
5.2.2 Current account dynamics
Current Account to GDP in Ukraine is expected to reach -3.50% of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations.
The current account surplus in Ukraine widened sharply to $2,018mn in August of 2022 from $36mn in the corresponding month of the previous year. The secondary income surplus soared to $3,938mn from $373mn and the primary income account recorded a surplus of $818mn, switching from a $452mn deficit.
Meanwhile, the goods and services deficit rose to $2,738mn from $160mn. Considering the first eight months of the year, the current account balance swung to a $6,674mn surplus from a $714mn gap in the same period of 2021.
5.2.3 Gross international reserves
The gross international reserves (GIR) of the Ukrainian central bank rose 13.6% in August to $25.44bn after the government receivedbns of dollars in support from its international partners and started to see the benefit from frozen debt repayment deals.
29 UKRAINE Country Report October 2022 www.intellinews.com