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C/a deficit €1.486 bln in Q4, €6.4 bln in 2005

Hungary's current account deficit was €1.486 billion in the fourth quarter of 2005, bringing the full-year figure to €6.405 billion, the National Bank of Hungary (MNB) announced on Friday.

Calculating with a capital account surplus of €280 million in Q4, and a capital account surplus of €712 million for the whole year, Hungary's external financing requirement was €5.694 billion in 2005, including €1.206 billion in the fourth quarter. In 2004, the external financing requirement was €6.716 billion.
The MNB also revised the full-year c/a deficit for 2004 from €7.136 billion to €6.976 billion in its report on Friday. Quarterly current account figures for last year were revised downward by €83 million for Q1 and by €123 million for Q2, while the figure for Q3 was revised upward by €72 million. As a result, the Q1-Q3 current account deficit figure fell by €133 million to €4.920 billion.