Mediafax (Mediafax)
Macroeconomics  |  December 14, 2010 10:20:05

CNB: Current account of balance of payments showed a surplus in October of 0.6 billion crowns


Mediafax

PRAGUE (MEDIAFAX) - Current account balance of the Czech Republic in October reached a surplus of 0.6 billion crowns on Tuesday informed about the Czech National Bank (CNB). The result is significantly better than the market consensus expected Reuters (-12.4 bn CZK).

In September, the current account showed a deficit of 19.4 billion crowns. Balance of income and current transfers were passive in October. Amount of dividend paid amounted to eight billion crowns. The current transfers includes a deficit of transfers from the CR to the EU budget of 0.3 billion. The capital account includes income from the EU budget about 0.1 billion. The current account deficit in the annual total in the longer term increased.

Capital inflow on the financial account in the methodology of the European Central Bank (ECB) was 11.9 billion crowns. The net inflow of direct investment reached 9.9 billion crowns, of which net reinvested earnings 6.0 billion crowns. The asset balance of portfolio investments of 2.0 billion was due to purchase of shares and bonds denominated in foreign investors. The net inflow of direct investment total (in the longer trend) increases. Net portfolio investment total (in the longer trend) shows an increasing influx of resources.

The balance of other investment was passive in the $ 5.7 billion due to changes in short-term positions of banks. The government drew from the European Investment Bank (EIB) loans of 3.6 billion for the construction of transport infrastructure.The balance of clients transactions led CNB (adjusted for valuation changes) to reduce reserves by 6.1 billion.

(The report issued by the Agency unless otherwise indicated infographics)

Tomas Cizek, cizek@mediafax.cz

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