Romania’s 5-Mo Curr Acct Def +11.08% On Yr To EUR6.526B

In the first five months the year before, the current account deficit stood at EUR5.875 billion.

The current account deficit was 63% covered by foreign direct investment, which totaled EUR4.114 billion. In 2007, foreign direct investment in Romania fell to EUR7 billion from EUR9.1 billion in 2006.

Current account transfers registered a surplus of EUR2.252 billion in the January-May period, up EUR1.879 billion surplus last year. Services posted a slight surplus of EUR194 million, down from EUR422 million in the year-earlier period.

Romania’s public debt totaled EUR43.122 billion at the end of May, up 12.1% compared with the end of 2007.

Last year, Romania’s current account deficit widened 66.1% on the year to EUR16.87 billion from EUR10.15 billion in 2006, mainly due to a larger trade deficit.