Report

CA gap widens by 12% y/y to EUR 847mn in December, mainly over higher trade gap

- Deterioration is also fuelled by primary income
- Improvement continued in transfers, higher services surplus also helps
- Net financial outflows are mainly driven cash and short-term deposits
- Annualised CA deficit further rises slightly, reaches 5.16% of GDP at end-2019
- Net FDI keep rising in December, but with milder pace; 2019 FDI covers only about half of CA deficit
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