MNB: EUR 1.695 bln Q3 C/A deficit

Debt

Hungary had a current-account deficit of EUR 1.695 billion in the third quarter, according to an amalgamation of monthly data released by the National Bank of Hungary (MNB) on its website.

The MNB published the C/A data for September yesterday. The central bank will release a first reading of C/A data for the third quarter on December 21.

The monthly data shows Hungary had a EUR 229 million trade deficit in Q3, the balance of a EUR 2.221 bln deficit in the trade of goods and a EUR 1.993 bln surplus in the trade of services.

The primary income balance shows a deficit of EUR 1.34 bln, as investors repatriated EUR 1.581 bln from direct investments.

Capital transfers from the European Union came to EUR 737 mln for the quarter.

Under reserve instruments, the data shows the arrival of EUR 2.246 bln of special drawing rights in August, part of a general allocation of SDRs by the IMF board of governors to all participating IMF members. The allocation was made in proportion to members' exi sting quotas in the fund.

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