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Romania Jan-Apr Current Account Gap Widens 40% To EUR2B

Romania's current account deficit widened 40.3% to EUR2.06 billion in January to April, from EUR1.47 billion in the same period a year earlier, due to the decreasing surplus in the current transfers balance, the central bank said in a statement Wednesday.
Romania Jan-Apr Current Account Gap Widens 40% To EUR2B
16 iun. 2010, 10:49, English

The current transfers balance posted a surplus of EUR604 million in the first four months, down 61.2% from EUR1.55 billion in January-April 2009.

Foreign direct investments, which stood at EUR1.1 billion, covered about 55% of Romania’s current account deficit in the first four months of 2010.

In January-April 2009, foreign direct investments stood at EUR1.8 billion.

Romania’s total external debt reached EUR86.6 billion end-April, compared with EUR80.2 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 EUR70.5 billion at the end of April, up from EUR65.6 billion in December 2009.

The short-term debt was at EUR16.1 billion, up from EUR14.6 billion at the end of December.

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