Croatia: 2Q Balance of Payments |
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2Q C/A deficit up 32% y/y As expected, the current account maintained its negative trend in 2Q08, with the deficit reaching EUR 1.8bn, a robust increase of 32% y/y. As usual, the strongest pressure came from the merchandise account, where the deficit widened by 23% y/y, supported by the sluggish 2Q monthly trade balance figures. Hence, exports increased by 7% y/y, clearly outpaced by the 15% y/y import growth rate. The trade balance outlook remains rather poor, as exports will have a hard time
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