Itaú BBA - Current account posts $62 million deficit in April

Macro Brazil

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Current account posts $62 million deficit in April

mayo 27, 2019

Current account posts $62 million deficit in April and disappoints market expectations

For the version with all charts and tables, please open the attached pdf file
 

•  The current account posted a deficit of $62 million in April, disappointing our estimate ($600 million surplus) and market expectations ($500 million surplus). Nevertheless, the deficit remains at a historically-low level. For the next years, we maintain our expectation of a gradual increase in the current account deficit, but not to the point of compromising the sustainability of Brazil’s external accounts. Direct investment in the country is still the main source of financing for the current account deficit.
 

Thales Caramella
 

For the version with all charts and tables, please open the attached pdf file



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