current account

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current account

Economics that part of the balance of payments composed of the balance of trade and the invisible balance
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Current Account


a type of deposit operation in banks and savings banks. Deposits in current accounts are not time deposits; that is, the account holder can make deposits and withdrawals at any time. In the capitalist countries, current accounts for the most part hold the temporarily free capital and cash reserves of the capitalists. In the USSR, current accounts in banks may be opened by noneconomic institutions and enterprises, kolkhozes, and public organizations; current accounts in savings banks may also be opened by individuals.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The central bank data suggested that the authorities concerned had revised up the current account deficit for the prior fiscal year 2017-18 twice during FY19.
if such a current account is sustainable or not," he said, adding that the current account balance is financiable because of the expected inflows in the foreign direct investment (FDI) account and in the foreign portfolio investment.
Month on Month (MoM) basis, during April 2019, current account deficit was recorded to $1.24 billion as compared to $871 million in March 2019.
Beltran said there is a need to keep not only the current account deficit, but also the budget deficit, low by maintaining interest rates at an optimal level that would raise both savings and investments.
This improvement in the current account deficit was mainly due to increase in remittances by 12.6 percent, deceleration in imports by 2.9 percent which reflects the impact of policy measures taken by the government.
The government's announcement that the current account woes are over does not seem to hold, especially since no inflow of the promised $3bn from Saudi Arabia has materialised yet while details regarding the IMF and Chinese packages are still to be finalised.
The current account surplus of the country's oil and gas sector completely covers the deficit of the non-oil sector totaling $5.7 billion, which is $56 million less than in 2016.
The place to start is with financial flows, not with the current account.
Global Banking News-June 30, 2017--Watchdog warns UK banks against closing current accounts
MORE current account customers have been ditching and switching their bank following a wave of providers cutting rates or reducing perks on their accounts.
Summary: Current account deficit widened to 13.3% of GDP in 2016 from 12.0% in 2015, increasing 13.6% y/y in nominal terms to US$ 1.9bn, according to NBG.