Italy’s current account widens in December
Italy's current account deficit widened year-on-year to €3.01 billion in December 2004, said the Italian Office of Exchange.
The capital account surplus fell from €2.21 billion in December 2003 to €114 million in December 2004. The financial account surplus rose from €591 million to €2.2 billion.
Official reserves fell from €48.2 billion at the end of November 2004 to €45.8 billion at the end of December.
For 2004 as a whole, the current account deficit dropped from €18.3 billion to €10.6 billion.