Actual (Feb): CZK 10,25bn
Consensus: CZK 12,5bn
Previous (Jan): CZK 15,6bn
February balance of current account was roughly in line with estimates. Trade balance has already been released and has shown no surprise. Other C/A components, balance of services and income balance, posted similar figures as a month ago. Only the balance of current transfers is significantly worse - it showed a CZK 2,6bn deficit in February. However, this time, the deficit was not caused by transfers between the Czech Republic and the EU. The net flow from the EU was positive.
As the fresh data have not brought any significant surprise, we stick to our estimate of a slight C/A surplus in 2010 thanks to high expected surplus in trade balance.