Slovakia’s current account deficit deepened to €70 million in March

Slovakia's current account in its balance of payments continued posting deficits in March following the February gap of €35.3 million, the SITA newswire wrote. Preliminary data from the National Bank of Slovakia (NBS) show that the deficit in the balance of payments was €70.1 million in March. However, in annual terms, the deficit narrowed from €215.2 million a year ago.

Slovakia's current account in its balance of payments continued posting deficits in March following the February gap of €35.3 million, the SITA newswire wrote. Preliminary data from the National Bank of Slovakia (NBS) show that the deficit in the balance of payments was €70.1 million in March. However, in annual terms, the deficit narrowed from €215.2 million a year ago.

Considering individual components of the current account, only the trade balance posted a surplus in March of €176.3 million, down from €53.6 million in February, SITA wrote. The balance of receipts ended with the deepest deficit of €105.9 million, followed by the balance of services with a deficit of €99.5 million and the balance of current transfers with €41 million.

The central bank commented that the deficit on the current account deepened as a result of deteriorated development on the balance of current transfers due to month-on-month lower drawing of EU funds. On the other hand, the increase of the trade surplus and partly also the smaller deficit in the balance of services affected the March result positively.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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