Romania Jan-Feb Curr Acct Gap Widens 64.3% To EUR754M

The current transfers balance posted a surplus of EUR312 million in the first two months, down 68.5% from EUR989 million in January-February 2009.

Foreign direct investments, which stood at EUR466 million, covered 61.8% of Romania’s current account gap in the first two months of the year.

In January-February 2009, Romanian FDI was EUR1.32 billion.

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Romania’s total external debt reached EUR82.3 billion end February, compared with EUR80.06 billion at the end of 2009, according to central bank data.

The wider debt was mostly due to the raising medium and long-term debt, which stood at EUR67.7 billion at the end of February, up from EUR65.4 billion in December last year.

The short-term debt was at EUR14.61 billion, slightly wider from EUR14.59 billion at the end of December.

In 2009, Romania’s current account deficit narrowed 68.7% on the year to EUR5.05 billion.