Current account surplus jumps to €866 mln in September
Hungary's current account surplus reached €866 mln in September, data published by the National Bank of Hungary on Friday shows. The monthly surplus, which means Hungary is owed more than it owes, rose sharply from €264 mln in August and €374 mln in July.
The monthly surpluses add up to a preliminary €1.50 bln surplus for the third quarter, which is sharply up from €1.07 bln in the first and €809 mln in the second quarter and is in line with (just €61 mln less than) the surplus a year earlier. The Q3 trade surplus was little changed, reaching a preliminary €2.39 bln, as a fall in the surplus on the trade of goods was offset by a rise in the services surplus.
The monthly figures indicate a slowdown in the utilization of EU monies in September when the inflow slowed from an outstanding €560 mln in July and from nearly €550 mln in August to €414 mln. Still the Q3 net EU transfers, at €1.40 bln, exceeded those of the previous two quarters and were about €400 mln up in one year. The bulk of the rise was in capital transfers, which reached €1 bln in the quarter. Net transfers from the EU slightly exceeded €3.4 bln, the monthly figures suggest.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.