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Hungary's current account deficit €1.7 bln in Q2

Hungary's current account deficit was ?1.701 billion in Q2, according to figures published by the National Bank of Hungary (MNB) on Friday. The bank also revised the Q1 current account deficit figure from ?1.494 billion to ?1.545 billion, bringing the first-half deficit to ?3.246 billion. Hungary's net external financing requirement, which includes the capital as well as the current account deficit, was ?1.536 billion in Q2 and ?2.910 billion in H1, down from ?2.247 billion and ?3.625 billion, respectively, in the same periods last year. The seasonally-adjusted financing requirement was ?1.423 billion in Q2, or 6.6% of GDP. Hungary had capital outflow of ?1.251 billion in H1 2005, compared to non-debt-generating capital inflow of ?645 million in the same period.