The central bank raised its 2021 projection for the current account surplus to US$10 billion, or 2.5% of gross domestic product (GDP), from its previous forecast of US$9.1 billion, or 2.3% of GDP.
For next year, the current account surplus was expected to reach US$6.7 billion, or 1.5% of GDP, also wider than the earlier estimate of $5.2 billion, or 1.2% of GDP, central bank managing director Zeno Abenoja told a news conference.
An improving global economy should drive 10% growth in exports of goods this year, higher than the central bank's 8% estimate in March, and then 6.0% growth next year, Abenoja said.
The central bank predicted that imports of goods this year and next year would grow 12% and 10%, respectively, as domestic demand recovers in line with a gradual reopening of the economy, which should allow for more business activity.
This year's balance of payment surplus was forecast to reach US$7.1 billion, up from the projected US$6.2 billion in March, before narrowing to US$2.7 billion next year.
The central bank's also raised its estimate for foreign exchange reserves this year to US$115 billion from US$114 billion. - Reuters