Romania’s current account deficit at EUR 2.6 bln in the first five months

The current account of payments balance registered a deficit of EUR 2.6 billion in the first five months of the current year, a growth of EUR 757 million in May compared with January-April, according to the data from the National Bank of Romania (BNR).

During January-May 2015, the deficit widened by EUR 42 million.

„Within the structure, the main incomes balance and the goods balance had deficit growths of EUR 1.7 billion, respectively EUR 1.17 billion and the services and secondary incomes balance registered surpluses of EUR 149 million, respectively EUR 85 million,” says BNR.

According to BNR, the external long term debt was EUR 69.9 billion on May 31 (79.5 percent out of the total external debt), a drop of 1.1 percent compared with December 31 2015.

„The short term external debt was EUR 18 billion on May 31  (20.5 percent out of the external debt), a drop of 6.4 percent compared with December 31 2015. During January-May, the total external debt decreased with EUR 2 billion; within the structure, the debt non guaranteed by the state dropped with EUR 2.4 billion, the debt of the monetary authority dropped by EUR 318 million, while the public debt grew by EUR 744 million, ” says BNR.

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The rate of external debt service rate was 27.7 percent during January-May, compared with 35 percent in 2015. The coverage rate of goods and services imports was 6.5 months on May 31 2016 compared with 6.4 months on December 31 2015.

Georgiana Bendre