Croatian National Bank (HNB): Current Account Balance Payment Runs €1.26bn Deficit in Q1

A surplus on the capital account increased by 20.9% or €45 million in Q1 to €260 million.

As a result, the balance of payments of the current and capital accounts in Q1 generated a deficit of €1.1 billion, which is €100 million less than in the corresponding period in 2020.

“That improvement is exclusively the result of the surplus in the secondary income and capital transaction accounts due to a marked increase in net income from transactions with the EU budget. The favourable trend of absorbing EU budget funds, however, on the most part were annulled by a pronounced deterioration of balance of primary income accounts and, to a lesser extent, by the decreased net export of services,” according to HNB analysts.

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