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Article: Czech Republic Daily Business Report (Daily News Briefs: DEC 04, 2002).
- Article from:
- Czech Republic Business Report Daily
- Article date:
- December 4, 2002
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HEADLINES
Current account deficit climbs to CZK 50 bn in 3Q
The Czech Republic recorded a current account deficit of CZK 50.9 bn in the third quarter of 2002, an increase of CZK 32.6 bn from 2Q, the Czech National Bank (CNB) said on Wednesday.
Analysts expected a deficit between CZK 40-45 bn.
On the other hand, the inflow of capital into the financial account amounted to CZK 91.7 bn, mainly due to FDI inflow. Owing mainly to CNB operations on the foreign exchange market, international reserves adjusted for valuation changes rose by CZK 37.3 bn in 3Q 2002.
In Jan-Sept 2002 the current account deficit reached CZK 84.6 bn, or 4.8 ...