Hungary’s June c/a surplus dips from May

Analysis

Hungary's current-account surplus dropped to €297 mln in June, down from €317 mln in May, data published by the National Bank of Hungary (MNB) revealed today.

The central bank started using a new methodology for releasing monthly balance of payments reports in July. MNB now uses the new Balance of Payments and International Investment Position Manual 6th Edition (BPM6) methodology, although the changes do not affect the level of net external financing capacity, with one exception: illegal trade is now incorporated in the goods and services section.

Current account data used to be issued quarterly but the central bank explained earlier it launched the release of the monthly data in order "to inform users of real economy and financing developments related to the rest of the world with the shortest lag possible following the reference period".

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