Banks, Financial Services, Foreign trade , Lithuania
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Lithuania's income balance deficit grows in March
BC, Vilnius, 17.05.2013.
Print version
Print versionThe excess foreign trade balance was offset by the growing income balance deficit; therefore, in March 2013, despite a one-third decrease, the current account balance (CAB) recorded a deficit, the Bank of Lithuania said in a statement, writes LETA.
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The positive value (340.7 million litas) of the balance of payments financial account balance in March 2013 was received due to the significantly declining official reserve assets.
In March 2013, the overall income balance deficit amounted to 339.5 million litas. In January 2013, the deficit was 484.1 million litas, and in February – 508.5 million litas; therefore, according to preliminary estimates, in January–March 2013, the current account balance (CAB) deficit amounted to 1.3 billion litas, or –5.1% of GDP (a year-on-year change from 2.7 billion litas, or –10.7% of the gross domestic product (GDP)).
In the recent 12 months (April 2012 to March 2013), the CAB surplus was 786.9 million litas.
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