Romania’s total external debt exceeds EUR 100 bn for the first time since 2013 on rising government borrowing

Sorin Melenciuc 13/06/2019 | 13:41

Romania’s total external debt, public and private, exceeded in April the threshold of EUR 100 billion, due mainly to rising public debt, National Bank of Romania (BNR) data show.

The total external debt was EUR 103.08 billion at end-April, up by EUR 3.665 billion compared to December 2018.

Long-term public debt rose by EUR 2.36 million, to EUR 37.13 billion at end-April, while the non-publicly guaranteed debt (mostly private) declined by EUR 486 million, to EUR 31.52 billion.

The rising public debt was mainly due to soaring public deficit, which almost doubled in January-April on much higher wage and interest spending.

The total long-term external debt amounted to EUR 69.86 billion in April, up 2.8 percent compared with December 2018.

But the short-term external debt also increased by EUR 1.77 billion up to EUR 33.22 billion.

The external rate service ratio on the long term was 16.6 percent in January-April, compared with 21.2 percent in 2018.

The coverage level of goods and services imports at end-Aprilr was 4.8 months, compared with 4.9 months in December 2018, according to the central bank.

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