The current account deficit in the balance of payments for June rose to CZK 13.3bn from CZK 5.4bn in May. A lower than expected deficit could lend support to the Czech currency in times of increased volatility on financial markets.
In the 2Q07, the current account deficit should remain at 3.2% of GDP, the same level as in the 1Q07. This is an acceptable level for a rapidly growing economy with strong domestic demand. For the full year 2007, we expect to see a current account deficit of 3.3% of GDP.