• Public finance budget deficit declined to CZK
94.5bn (3.0% GDP) last year from CZK
104.8bn (3.5% GDP) in 2005, according to fiscal statistics notification, which Czech Statistical Office submits to European Commission. Government sector debt reached CZK
973bn (30.4% GDP) at the end of last year.
• Volume of M&A worldwide increased by 14% in the 1Q07 to almost USD
1.2 trillion, i.e. 8.8% of world’s GDP. In the first three quarters of last year the volume of M&A was lower.
• Latvia’s current account increased to 21.1% GDP flat year from 12.6% GDP in 2005. This is another report which suggests overheating of Latvian economy. Rating agencies already warned that Latvia could experience a hard landing.
• Consumers’ confidence in the USA measured by Michigan University Index declined to six months minimum of 88.4 in March from 91.3 in February.