Trade figures better in August

THE AUGUST trade deficit narrowed to Sk4.2 billion, only half that of the same month a year ago, bringing the Slovak deficit after eight months in 2002 to Sk52.5 billion, nine per cent less than in the same period in 2001.

While Slovakia has been warned by international institutions to cut state spending and rein in its trade deficit after recording a record trade shortfall of Sk103 billion (over 10 per cent of GDP) last year, recent export improvements have been received positively by international market watchers and have boosted the Slovak crown.

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