The Czech Republic's current account deficit came in at a higher than expected $403 million, official figures showed Wednesday.
Published:
12 August 2004 y., Thursday
The Czech Republic's current account deficit came in at a higher than expected $403 million, official figures showed Wednesday.
The June deficit compared with a $325 million current account deficit in May. The market had expected a deficit in June of $350 million.
Some analysts said the higher than expected June deficit had been driven by foreign companies repatriating profits to their home countries.
The current account data will, ironically, come as good news to the central bank because it is likely to contribute to a relative weakening of the local currency, the crown.
The central bank and the government are keen to avoid any strong appreciation of the crown, fearing it will hurt the country's competitiveness.
The Czech economy is growing rapidly compared with the euro zone but is a relatively poor performer in the central and east European region.
Šaltinis:
washtimes.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level.
more »
Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15.
more »
World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat.
more »
These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB).
more »
The European Investment Bank (EIB) today signed its first loan agreement with Armenia.
more »
Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area.
more »
The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS).
more »
The European Commission today approved a new financial support package of €135 million for Morocco.
more »
The European Commission is allocating an extra €10 million in humanitarian aid for Liberia.
more »