Poland’s current account deficit seems to have narrowed in August

Poland’s current account is expected to have come in deficit again in August. According to a Societe Generale research note, the country is likely to have recorded a current account deficit of about EUR 298 million in August, narrowing from July’s deficit of EUR 802 million.

On the trade front, deficit is likely to have come in at EUR 298 million. Import and export figures, both, are anticipated to have registered higher amount as manufacturing rose in August, increasing 9.4 percent sequentially. In August, export orders grew 24.7 percent year-on-year as compared with July’s 6.7 percent growth.

Moreover, Poland received EUR 465 million in current transfers from EU funds in August. Primary income deficit is expected to have come at around EUR 894 million. Also, there is possibility that services account might have posted a surplus of about EUR 926 million, while the secondary income account is expected to have recorded a deficit of EUR 33 million, added Societe Generale.