Romaniaaa‚¬a„¢s current account deficit narrows by 85 percent in January

Newsroom 15/03/2011 | 09:03

In January 2011 the balance-of-payments current account posted a deficit of EUR 15 million, 86.5 percent lower than in January 2010, announced the National Bank of Romania (BNR) on Monday. This was generated by the fact that the trade deficit turned into surplus, according to the same source.

Non-residents’ direct investment in Romania were worth EUR 240 million (as compared with EUR 31 million in January 2010) and entirely covered the current account deficit for January 2011. Out of this, intra-group loans amounted to EUR 272 million and equity stakes consolidated with estimated net loss to EUR -32 million.

Romania’s medium- and long-term external debt at the end of January 2011 amounted to EUR 72,913 million (79.2 percent of total external debt), 1.2 percent above the level recorded at end-2010.Short-term external debt at end-January 2011 stood at EUR 19,155 million (20.8 percent of total external debt), up 2.2 percent from end-2010.