- 2023 BOP deficit now seen at $100m vs $1.2b deficit projected previously
- 2023 current account deficit seen at $11.1b vs $15.1b deficit seen previously
- 2023 remittances growth still seen at 3%
- End-2023 foreign reserves forecast seen at $99.5b vs $100b previously
- 2023 good exports seen to contract 4% vs previous projection of 1% growth; goods imports seen contracting 3% vs earlier projection of 2% growth
- 2023 services exports seen up 19% vs +17% previously
- Stronger than expected rebound in international travel and sustained robust outsourcing inflows are among other reasons for narrower 2023 BOP deficit forecast
- 2024 BOP now seen at $1b surplus vs earlier forecast of $500m deficit
- 2024 current account deficit projected at $10.3b
- 2024 foreign reserves estimated at $102b
- 2024 remittances seen expanding 3%