Hungary

Hungary had a current-account surplus in the second quarter for the first time since 1995 as the country's worst recession in almost two decades curbed demand for imported goods. The surplus was 476 million euros, compared with a revised deficit of 562 million euros in the previous quarter and a gap of 1.55 billion euros in the year-ago period, the Budapest-based central bank said. Imports have been falling as the worst recession since 1991 cut consumer demand, while companies bought fewer parts and base materials as they scaled back output. The central bank expects the economy to shrink 6.7 percent this year. (Bloomberg)

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