ECONOMIC BRIEFS

Balance of payments posts 11 billion Sk deficit in September

Slovakia's balance of payments ended September 1998 with a deficit for the first time in the year. The deficit amounted to 11.019 billion Sk ($297 million). The current account reported a deficit of 53.909 billion Sk ($1.46 billion) and the surplus on the capital and financial account totaled only 49.209 billion Sk. In comparison with August, the total balance of payments of Slovakia dropped by 21.279 billion Sk. This information was released by the National Bank of Slovakia (NBS) on January 5.

The development of the country's foreign trade continues to negatively influence the current account of the balance of payments. Eleven months into 1998, Slovakia's total foreign trade turnover reached 760.9 billion Sk ($20.56 billion), while the foreign trade deficit was as high as 72.479 billion Sk ($1.96 billion), according to the Slovak Statistics Bureau.

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