C/A deficit shrinks to 5.7% of GDP thanks to robust exports, limited imports

Poland's current account deficit reached $449 million in February, or 5.7% of gross domestic product, after a $932 million shortfall, or 6.1% of GDP, in January, bringing the deficit in the first two months of the year to $1.381 billion, the National Bank of Poland said on Monday. Analysts polled by Reuters in early March put the February external shortfall at $670 million. The central bank also said the trade deficit equalled $714 million in February. Grzegorz Wojtowicz, a member of the Monetary Policy Council (RPP), said the improvement of the current account arose from higher exports and limited imports, which follow a stabilization of economic growth, and added that no foreign debt payments had been made in February. "I keep my forecast that the deficit should be at about five percent at the end of the year," he said. (Reuters)