Current account deficit hits $816 million, proof of continuing strong exports

Poland's current account deficit (C/A) amounted to $887 million in January, following $816 million in December, reported the National Bank of Poland (NBP) on Thursday. The figure is higher than analysts' forecasts, which predicted some $640 million. Wike Groenenberg, an economist at Schroeders Salomon Smith Barney in London commented,"(...) it shows that export growth is still very strong. It's up almost 30 percent on the year-to-year basis, indicating that as yet the strength of the zloty hasn't negatively impacted Poland's performance. We think that in coming months we will see continued improving trend in the C/A deficit, but there is going to be stabilization and, later on in the year, deterioration in the deficit as the strength of the zloty will begin to have impact on exports." (Rzeczpospolita, p. B5; Reuters M. S.-C.