Question

what helps to reduce BOP deficit​

Answer 1

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☞Policies to reduce a current account deficit involve:

♥Devaluation of exchange rate (make exports cheaper – imports more expensive)

♥Reduce domestic consumption and spending on imports (e.g. tight fiscal policy/higher taxes)

♥Supply side policies to improve the competitiveness of domestic industry and exports.....ツ

Answer 2

Policies to reduce a current account deficit involve:

Devaluation of exchange rate (make exports cheaper – imports more expensive)

Reduce domestic consumption and spending on imports (e.g. tight fiscal policy/higher taxes)

Supply side policies to improve the competitiveness of domestic industry and exports.

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