CEE ECONOMY-Czech current account deficit hits record in 2022

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 13 (Reuters) - The Czech Republic's current account landed in a record deficit of 380.1 billion crowns ($17.10 billion) in 2022, central bank data showed on Monday. Current account balances around central Europe came under strain from soaring costs for energy and materials last year. The Czech gap compares to a 51.1 billion crown deficit in 2021 and 113.7 billion crown surplus in 2020. The previous largest gap was 177.1 billion crowns posted in 2007, according to central bank data. In December alone, though, the seasonally-adjusted deficit was the lowest since mid-June, according to Jaromir Gec, economist at Komercni Banka. "Problems in supply chains and imports of expensive energy were behind trade deficits. Both of these negative factors were both fading visibly and faster-than-expected at the end of last year," he said. ($1 = 22.2220 Czech crowns) (Reporting by Jason Hovet)

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