The Estonia current account deficit stood at 2.39 billion kroons in June, a flash estimate released by the Bank of Estonia indicated Tuesday. The deficit decreased from 2.15 billion kroons in May.
In the second quarter, the Estonian current account deficit was 7 billion kroons, or nearly 10-11% of the expected gross domestic product. According to the central bank, this indicated that the current account gap is going to decline further.
The central bank noted that the trade deficit reached 2.5 billion kroons in June and stood at 7.3 billion kroons in the second quarter.
Meanwhile, the services account surplus totaled 1.5 billion kroons in June.
it never good when a country's economy is functioning on borrowed means. Spare a thought for the US who in logged unprecedented $856.7 billion current account deficit.
Posted by: blogsphere | August 13, 2008 at 16:49