Hungary C/A deficit widens in August
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Hungary's current account had a deficit of EUR 1.035 billion in August, widening from a EUR 267 million gap in the previous month, preliminary monthly data released by the National Bank of Hungary (MNB) on Friday show, according to a report by state news wire MTI.
Hungary had a EUR 381 mln trade deficit for the month, the balance of a EUR 1.047 bln deficit in trade of goods and a EUR 666 mln surplus in trade of services.
The primary income balance showed a deficit of EUR 580 mln, as investors repatriated EUR 573 mln from direct investments.
Capital transfers from the European Union came to EUR 191 mln for the month.
Under reserve instruments, the balance of payments data show the arrival of EUR 2.246 bln of SDRs in August, part of a general allocation of SDRs by the IMF board of governors to all IMF members participating in the SDR department. The allocation was made in proportion to members' existing quotas in the fund.
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