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Euro zone’s current account deficit widens on soaring energy bill
21st October 2022
The euro zone’s current account deficit widened in August as soaring energy costs pushed up the bloc’s import bill, data from the European Central Bank showed today.
The currency bloc of 19 countries had run a current account surplus for years before Russia’s war in Ukraine.
It recorded an adjusted deficit of €26.32 billion in August after a €19.96 billion deficit a month earlier.
In the 12 months to August, the euro zone’s current account deficit equalled 0.1% of gross domestic product (GDP), down from a surplus of 2.8% in the preceding year.
Article Source: Euro zone’s current account deficit widens on soaring energy bill – RTE
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