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Romanian current account deficit: 40.3 percent higher than in the same period of 2009

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2010-06-16 12:01

The National Bank of Romania press release: In January-April 2010 the balance-of-payments current account posted a deficit of EUR 2,060 million, 40.3 percent higher than in the same period of 2009, due largely to the 61.2 percent decrease year on year in current transfers surplus. rnrnNon-residents’ direct investment in Romania worth EUR 1,135 million (as compared with EUR 1,796 million over January-April 2009) covered 55.1 percent of the current account deficit in the first four months of 2010. Over January-April 2010, out of the total figure, equity stakes (including reinvested earnings) amounted to EUR 975 million (as compared with EUR 1,088 million over January-April 2009) and intra-group loans1 to EUR 160 million (as compared with EUR 708 million). rnrnMedium- and long-term external debt at end-April 2010 stood at EUR 70,474 million (81.4 percent of total external debt), 7.4 percent above the level recorded at end-2009.rnrnShort-term external debt at end-April 2010 totalled EUR 16,116 million (18.6 percent of total external debt), up 10.4 percent from end-2009.rnrnMedium- and long-term external debt service ratio2 ran at 33.1 percent in the four months of 2010, similarly to 2009. At end-April 2010, goods and services import cover3 stood at 9.6 months versus 8.6 months at year-end 2009.

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