Romania’s current account deficit decreases by 24 percent in January-July 2011, FDI collapse by 30 percent – BNR

Newsroom 13/09/2011 | 16:02

In January-July 2011 the balance-of-payments current account posted a deficit of EUR 2,825 million, 24.4 percent lower than in the same year-ago period, announced the National Bank of Romania (BNR). The decline was mainly generated by a decrease of 19.3 percent of the trade deficit and the increase in current transfers surplus by 23.2 percent (on the back of net transfers to the general government), according to the same source.

Non-residents’ direct investment in Romania was EUR 1,105 million, down 30.5 percent as compared to January-July 2010. This covered 39.1 percent of the current account deficit in January-July 2011. Out of the total figure, equity stakes consolidated with the estimated net loss amounted to EUR 682 million and intra-group loans totalled EUR 423 million.

Medium- and long-term external debt at end-July 2011 stood at EUR 75,814 million (78.9 percent of total external debt), 4.2 percent above the level recorded at end-2010.

Short-term external debt at end-July 2011 totalled EUR 20,315 million (21.1 percent of total external debt), up 12.1 percent from end-2010.

Simona Bazavan

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