The positive financial account balance (LTL 848.3 million or EUR 245.7 million) resulted from a significant increase in the stocks of official reserve assets, the Bank of Lithuania said.
It should be noted that the balance of payments for May 2014 has been compiled following the requirements of the recast of the Balance of Payments Manual (BPM6), while the presented balances for January-March 2014 have been recalculated.
In May 2014, an LTL 428.8 million (EUR 124.2 million) CAB surplus built up in the country's balance of payments (BOP), while in the previous month, April, it posted an LTL 165.9 million (EUR 48.0 million) deficit. The build-up of the aforementioned balance in surplus was due to increases in the balances of income (LTL 759.2 million or EUR 219.8 million) and services (LTL 50.6 million or EUR 14.6 million) in surplus. In May of the present year, the CAB increased by LTL 166.4 million (EUR 48.1 million) year-on-year. This year, a surplus in the CAB accumulated for the second year running (in February, it amounted to LTL 225.4 million or EUR 65.2 million).
The CAB also posted a surplus (LTL 280.1 million or EUR 81.1 million) in January-May 2014, while posting an LTL 414.9 million (EUR 120.1 million) deficit year-on-year.
