Investment pushes current account into red

  • 2012-03-07
  • From wire reports
RIGA - In 2011 Latvia’s current account deficit in its balance of payments was 170.9 million lats (244.1 million euros) or 1.2 percent of the forecast gross domestic product, the Bank of Latvia said, reports current account surplus of 46.2 million lats in the fourth quarter notwithstanding, the overall annual balance was notably affected by one-off substantial purchases of investment goods made in the third quarter, driving up imports of goods considerably. A more successful performance of the companies owned by foreign investors was another factor expanding the cu...
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