Current account (Jun): CZK -9.1bn
Consensus: CZK -11.5bn
Previous (May): CZK -8.2bn
The current account gap widened slightly in June, but the figure is better than consensus. Another strong positive contribution came from the foreign trade that posted a high surplus (CZK 14.4bn). Also the balance of services showed a good result in June (CZK 5.2bn), while on the other hand the income balance deficit widened to 27.3 billion korunas, including an 18.1bn worth dividend outflow. Overall, the structure of the current account remains quite stable.
The financial account (CZK -13.1bn) shows a net outflow of FDIs worth 8.2 billion CZK. On the other hand there was a money inflow from portfolio investments (CZK 4.9bn) mainly thanks to bond purchases by foreigners.