Therefore, in a global economy characterised by major imbalances, our external sector is balanced in general, and not only our external sector, but our public accounts are also basically balanced.
These aims are achieved through the attribution to each budget item of appropriate weights indicating its first-round impact on aggregate demand or its direct impact on the basic balance of payments.
The reaction that followed our decision to resume the contract’s implementation was not alarmist but was basically balanced, objective and reflected the understanding among serious analysts that this step is justified and inevitable.
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The greater is the magnitude of the accumulated basic balance of payments deficit (surplus) that has to be financed (absorbed) by private short-term capital flows, the greater will be the risk premium.