Rising commodity prices to push CAD to 1.3 pc or $40 bn this fiscal: Report

Given the sharp increase in global commodity prices, particularly oil, concerns about current account deficit (CAD) and its serviceability have resurfaced. Potential taper by the Fed has only added to these jitters. "But, we see FY22 CAD at 1.3 per cent of GDP or USD 40 billion, up from a 0.9 per cent surplus in FY21, but still well-contained under the threshold of 2.5 per cent of GDP," BofA said on Tuesday.

from Economy-News-Economic Times https://ift.tt/3aT4LpS