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Euro zone's current account deficit widens on soaring energy bill

Published 10/20/2022, 03:23 PM
Updated 10/20/2022, 03:25 PM
© Reuters. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, September 28, 2022. REUTERS/Yves Herman

FRANKFURT (Reuters) - 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 on Thursday.

© Reuters. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, September 28, 2022. REUTERS/Yves Herman

The currency bloc of 19 countries, which ran a current account surplus for years before Russia's war in Ukraine, recorded an adjusted deficit of 26.32 billion euros 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.

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