Economy / Kazakhstan
Current Account To Remain In Deficit Until 2010
September 2009 | Economic AnalysisLatest balance of payments data from the National Bank of Kazakhstan affirms our view for Kazakhstan to post a current account deficit in 2009. We hold to our forecast for a US$4.5bn shortfall in 2009, a marked deterioration from the US$10.4bn surplus recorded in 2008. Beyond 2009, while we expect the country's balance of payments dynamics to improve on the back of rising oil and natural gas production, we maintain that a deficit is likely in 2010 and from 2012 onward.
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