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Romanian balance of payments and external debt - December 2015

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Autor: Bancherul.ro
2016-02-13 13:29

Balance of payments and external debt - December 2015 (National Bank of Romania press release):

In January - December 2015p, the balance-of-payments current account posted a deficit of EUR 1,758 million, as compared with EUR 686 million in 2014, amid the widening of the primary income and goods deficits (by EUR 1,830 million and EUR 1,430 million, respectively), which were partially offset by the increase in secondary income and services surpluses (by EUR 1,187 million and EUR 1,001 million, respectively).

Non-residents' direct investment in Romania (estimates) totalled EUR 3,035 million (as compared with EUR 2,421 million in 2014), of which equity (including estimated net reinvestment of earnings) amounted to EUR 3,340 million (as compared to EUR 2,846 million) and intercompany lending recorded a net negative value of EUR 305 million (as compared to EUR 425 million).

Long-term external debt at end-2015 stood at EUR 71,056 million (78.2 percent of total external debt), down 6.3 percent from end-2014.

Short-term external debt at end-2015 amounted to EUR 19,840 million (21.8 percent of total external debt), up 4.9 percent from end-2014.

In the period under review, total external debt declined by EUR 3,848 million, of which public debt by EUR 1,197 million, the monetary authority’s debt by EUR 1,038 million and non-publicly guaranteed debt by EUR 1,613 million.

Long-term external debt service ratio ran at 35.4 percent in January-December 2015 against 38.5 percent in 2014. At end-2015, goods and services import cover stood at 6.4 months, as compared with 6.8 months at end-2014.

At end-2015, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity stood at 98 percent, as compared with 88.9 percent at end-2014.

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