$2 billion deficit in balance of payments

The balance of payments recorded a cumulative deficit of $1.93 billion during the first nine months of 2012, compared to a deficit of around $1.54 billion accumulated at end-September 2011.

This is attributed to the $2.7 billion in deficit in net foreign assets at banks and financial institutions, counterbalancing the $770 million surplus in net foreign assets at the Central Bank (BDL).

The country has witnessed some $1.24 billion year-on-year increase in financial inflows to around $9.74 billion.