At 4.4% of GDP, current account deficit hits 9-year high

The country's current account deficit (CAD) widened in the second quarter of FY23 to a nine-year high of 4.4% of the gross domestic product, or $36.4 billion in absolute terms. In value terms, the quarterly CAD is the highest in more than a decade and more than the $35 billion forecast by economists.

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