ZAGREB, July 24 (Hina) - According to preliminary and incomplete data, Croatia's balance on current account in the first quarter of this year will have a deficit of about US$750 million which is 3.4 percent of Gross Domestic Product
for the entire year.
ZAGREB, July 24 (Hina) - According to preliminary and incomplete
data, Croatia's balance on current account in the first quarter of
this year will have a deficit of about US$750 million which is 3.4
percent of Gross Domestic Product for the entire year. #L#
The deficit in the current account, the Croatian National Bank
(HNB) says, is primarily the result of an increased deficit in goods
accounts which is about 20 percent higher compared to the first
quarter last year.
According to temporary of the Central Bureau of Statistics, the
foreign trade deficit in the first quarter amounted to about
US$1,067 million and was 19 percent higher than in the same period
last year.
Analysts in the central bank note that the first quarter of 2002 was
marked with an increased deficit in the balance on current account
as against the same period last year.
The deficit last year amounted to US$611.3 million.
According to the HNB, in the first quarter of this year, foreign
reserves in the central bank continued to increase and the
country's international solvency has improved. Foreign reserves in
the central bank at the end of May amounted to a record US$5.2
billion.
(hina) sp it