Mediafax (Mediafax)
Macroeconomics  |  December 14, 2010 01:15:09

The current account balance showed a CR in October, according to analysts deficit of CZK 12.4 billion (14.12.2010)


Mediafax

PRAGUE (MEDIAFAX) - Czech National Bank (CNB) on Tuesday published data on the current account balance of the CR in October. Market Reuters consensus anticipates that the deficit has declined from 18.6 in September to 12.4 billion.

In September paid dividends of 23.6 billion. On the contrary, power balance (goods and services) over 15 billion surplus. The deficit in current transfers reflected transfers of businesses and households abroad and net payments to the EU budget (0.4 billion). The capital account includes income from the sale of emission allowances of 0.2 billion and receipts from EU budget amounting to 0.1 billion crowns.The growing trend of current account deficit based on annual totals in the long term continued.

Capital inflow on the financial account in the methodology of the European Central Bank (ECB) stood at 7.7 billion. Net inflows of direct investment reached 9.1 billion, of which net reinvested earnings amounted to 6.5 billion crowns. The amount of the surplus of portfolio investment of 53.1 billion crowns was mainly influenced by issues of government bonds in foreign capital markets, amounting to two billion euros.

The negative balance of other investments of 6.4 billion reflected the change in long-term positions of banks in relation to non-residents in the state due to the growth of deposits and lending abroad. Foreign exchange reserves are adjusted for valuation changes rose by 48.5 billion. The main reason was a temporary increase in foreign exchange deposits with the CNB clients.

"Data on current account over the past few months, worsening vision of the development of the external balance this year. September, this was no exception. Power balance is below the significant surplus that could offset the outflow of dividends. The ratio of profit, which follows degassed abroad, is contrary to reinvestovanému in CR at a relatively high level. The current account deficit for this year and is directed to the level of 2.2 percent of GDP, a deterioration of one percent last year, "said the analyst at Patria Finance analyst Tomas Vlk.

Tomas Cizek, cizek@mediafax.cz

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Běžný účet platební bilance ČR vykázal v říjnu podle analytiků schodek 12,4 miliardy korun (14.12.2010)

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