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Hungary has €366m c/a surplus, €875m external financing capacity in Q4

Hungary had a current account surplus of €366m and net external financing capacity – a positive combined balance of the current account and the capital account – of €875m in Q4 2010, unadjusted figures published by the National Bank of Hungary (MNB) on Thursday show.

Both the current account surplus and external financing capacity narrowed from the downward revised Q3 figures but increased sharply from a year earlier.

Calculated as a sum of the four quarters, the country had a €2.031bn c/a surplus in 2010, up sharply from €332m in 2009. The country's net external financing capacity more than doubled to €3.821bn from €1.442bn in 2009, the first reading shows.

After adjusting for seasonal effects, Hungary's external financing capacity was €1.101bn or 4.1pc of GDP in Q4, up from €921m in Q3 this year and up from €616m a year earlier.