BoA confirms CA deficit up

BoA declared that the volume of current transactions has increased by 14.5 percent, compared to last year, reaching a total of euro 5 billion. The current deficit recorded an increase of about 51.6 per cent, amounting to 410.6 million euros. An overwhelming 96 per cent of current expenditure was used for the purchase of goods and services from non-residents. Current transfers made up 30 per cent of current revenues. The rest was provided by exports generated revenues making up 20 per cent and 38 per cent of revenues, respectively. Trade deficit, a permanent feature of foreign trade developments, continued to affect the high levels of current account deficit. Current deficit recorded an increase of about 51.6 per cent, amounting to 410.6 million euros. The increase of trade deficit in goods and services was partly offset by the increase of net revenues and of net factorial revenues in transfer accounts.