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Slovakia's current account surplus hits €363 million in February

The surplus in Slovakia's current balance of payments account increased in February according to preliminary data released by the National Bank of Slovakia, which stated the surplus was €363.4 million. In annualised terms, February's surplus on the current account rose by nearly €75 million, the SITA newswire wrote.

The surplus in Slovakia's current balance of payments account increased in February according to preliminary data released by the National Bank of Slovakia, which stated the surplus was €363.4 million. In annualised terms, February's surplus on the current account rose by nearly €75 million, the SITA newswire wrote.

Slovakia’s foreign trade balance showed a surplus of €347.7 million in February and was nearly €84 million higher than in January and over €170 million higher than a year ago. The balance of services had a surplus of €38.6 million while the balance of current transfers showed a surplus of €75.7 million. The deficit in the balance of receipts reached €98.6 million, which was a reduction of €43 million.

The primary factors behind the month-on-month increase in the current account surplus was the trade balance and a change of deficit to a surplus in the balance of current transfers that was related to better drawing of EU funds, according to SITA.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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