DATAWATCH Czech current account deficit up to 16.8 bln crowns, above forecast |
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Fri, 15 Jun 2007 11:49
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PRAGUE (Thomson Financial) - The Czech current account deficit rose to 16.8 bln crowns in April due chiefly to dividend outflows to foreign investors in the central European state, the Czech central bank (CNB) said today.The deficit was much higher than market expectations of 11 bln and up from a deficit of 8.3 bln last April. The crown inched down against the euro following the news.In March this year, the account posted a surplus of 8.3 bln.'In May, when the dividend payout season reaches full pace, the current account deficit will probably be higher,' Raiffeisenbank analyst Michal Brozka said.He said he expects the volume of dividends leaving Czech Republic this year to reach 110 bln crowns, up from last year's 95 bln.jana.mlcochova@thomson.comjm1/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Czech trade surplus hits 3 bln crowns in April 