Romania Current Account Deficit Widens to EUR3.4B in Jan-May

The primary income balance, which covers funds from investment and employment, posted a deficit of EUR1.059 million in January-May, compared with a deficit of EUR1.837 billion in the same period of 2018.

The goods and services balance recorded a deficit of EUR2.975 billion compared with a deficit of EUR1.615 billion in January-May 2018.

The secondary income balance posted a surplus of EUR633 million in the January-May period, from a surplus of EUR888 million in the same period of 2018.

Foreign direct investment stood at EUR1.491 billion in January-May, compared with EUR1.66 billion in the same period last year.

Of total FDI, equity stakes (including estimated net reinvestment of earnings) amounted to EUR1.476 billion, while net intra-group lending stood at EUR15 million, the data showed.

Romania’s total external debt grew by EUR4.1 billion from end-2018, standing at EUR103.526 billion at the end of May. Long-term debt stood at EUR69.455 billion, accounting for 67.1% of the total external debt.