Seasonal blip causes current account deficit to hit 9% of GDP, experts calm

The current account deficit could reach $1.3 billion in March, which means it would be 9% of GDP. The reason for such a sharp negative change may be the repayment of $251 million of foreign debt. "Investors consider it a seasonal occurrence and that is the reason that there will be no panic despite the danger such a high deficit creates," said Paribas economist Ashley Dodd-Noble. In his opinion a further decrease in the value of zloty is possible. The Polish currency has minimally increased its value against euro and U.S. dollar on Tuesday. Other reasons for the increasing deficit is the struggling exports. The experts of Deutsche Bank (DB) say our currency will not be depreciated further as the fundamentals of the economy are stabilizing. One of the negative effects may be the increase in prices, mostly of gasoline. (Prawo i Gospodarka, page 1, 2, 16) M.M.