Although the deficit on the current account of the balance of payments as a percentage of GDP contracted to 3,4 per cent in the second quarter of 2005, data for July and August indicate a possible widening of the trade deficit in the third quarter.
The current account however remains financed by capital inflows, and the international liquidity position of the Bank increased to a level of $ billion at the end of September. World inflation is expected to be negatively affected by higher oil prices.