Poland may post current account surplus in May

Poland trade banalce data for May is scheduled to release on 14th, July.

Societe Generale estimates a current account surplus at around €890m in May and a minor surplus of €22m in trade account due to a decrease in export orders (-4.5% mom in May) but with still positive exports growth of 9.5% yoy. 

EU funds inflow is supportive again as Poland received €1,113bn in current transfers according to MinFin data. 

SocGen says "This should impact the primary income account and it is likely there will be a minor deficit (-€53m vs historical average deficit of -€1031m). Also, other components should contribute to a high and positive CA balance: we expect a surplus on the services account of around €850m and a surplus of around €70m on the secondary income account."