India’s Current Account Deficit Widens to Near Decade High
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India’s current-account balance widened to the highest in nearly a decade as the nation’s trade gap ballooned and foreign investments fell.
The current account, the broadest measure of the country’s overseas trade and services flows, was in a deficit of $23 billion, or 2.7% of gross domestic product, in the three months ended December, the Reserve Bank of India said in a statement on Thursday. The median in a Bloomberg survey of 12 economists was for a deficit of $24.25 billion.