Current account deficit was close to €34 million in August

The current account of Slovakia's balance of payments showed a deficit of €33.8 million in August 2011, according to flash estimates published by the National Bank of Slovakia. The figure marked a significant change from July's deficit of over €220 million. A year ago, the deficit exceeded €530 million.

The current account of Slovakia's balance of payments showed a deficit of €33.8 million in August 2011, according to flash estimates published by the National Bank of Slovakia. The figure marked a significant change from July's deficit of over €220 million. A year ago, the deficit exceeded €530 million.

"The month-on-month decline in the current account deficit probably results mainly from a higher trade balance surplus," the central bank reported, as quoted by the SITA newswire. The deficit of current transfers, which softened due to more intensive drawing of EU funds, and a slightly lower deficit in the balance of receipts bolstered the overall result. Moreover, the deficit in the balance of payments for services shrank modestly in monthly terms.

Slovakia’s trade surplus was €160.5 million in August, an increase of more than €115 million compared to July.

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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