Current account deficit soars 64.1 percent in first two months of 2012

In January – February 2012, the balance-of-payments current account posted a deficit of EUR 663 million, up 64.1 percent y-o-y, due mainly to the trade deficit doubling and the current transfer surplus decreasing by one third, according to the National Bank of Romania (NBR).

Non-residents’ direct investment in Romania amounted to EUR 253 million down 22 percent from the EUR 325 million registered in January – February 2011. Direct investments covered 38.2 percent of the current account deficit in January – February 2012. Out of the total figure, equity stakes consolidated with the estimated net loss amounted to EUR 410 million and intra-group loans posted net payments of EUR 157 million.

Medium- and long-term external debt at end-February 2012 stood at EUR 75,499 million (77.1 percent of total external debt), 0.1 percent below the level recorded at end-2011.

Short-term external debt at end-February 2012 totaled EUR 22,488 million (22.9 percent of total external debt), down 1.5 percent from end-2011.

Simona Bazavan

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