Romaniaaa‚¬a„¢s January-November current account deficit widens by 23.5 percent, says central bank

Newsroom 13/01/2011 | 12:32

In January-November 2010 the balance-of-payments current account posted a deficit of EUR 5.173 million, 23.5 percent higher than in the same period of 2009, announced this Thursday the National Bank of Romania (BNR). The increase was generated by a year on year hike in services and income negative balances and the drop in current transfers surplus, according to BNR.

Medium- and long-term external debt at end-November 2010 stood at EUR 72.391 million (79.8 percent of total external debt), 10.0 percent above the level recorded at end-2009. Short-term external debt at end-November 2010 amounted to EUR 18.316 million (20.2 percent of total external debt), up 18.9 percent from end-2009.

Non-residents’ direct investment in Romania amounted to EUR 2.269 million (as compared with EUR 3.049 million over January-November 2009) and covered 43.9 percent of the current account deficit in the first eleven months of 2010. Over January-November 2010, out of the total figure, equity stakes amounted to EUR 1.419 million and intra-group loans to EUR 850 million.