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Foreign investment; record this Jan : 912 million euros

The foreign balance of Romania shows 'spectacularly' at the beginning of this year, with the FDI worth 912 million euros, in one month alone, write the dailies Ziarul Financiar and Financiarul, quoting data from the Central Bank of Romania (BNR).

The current account deficit fell this Jan. 54.6 percent, compared with the first month in 2008, from 525 million euros, mainly as a result of the fall in the trade balance deficit. But the deficit was financed fully from FDI, which reached 912 million euros in the first month this year.

According to data from BNR, the negative balance of goods and services was cut almost four times in the first month this year, from 1.057 billion euros in Jan 2008, to 267 million euros.

The FOB/FOB deficit, the main source fuelling the foreign imbalance was compressed in Jan by two thirds (66.4 percent), to 385 million euros, from 1.145 billion euros in the first month in 2008. The balance of services reported a surplus of 118 billion euros, in the first month in 2008, up 34 percent compared with Jan 2008, show the BNR data.

According to daily Romania Libera, the FDI has shown the financing of new projects. So, almost half of the total FDI, 49.6 percent of the FDI are capital surges. As a matter of fact, only three companies invested in Jan 2009 half of the total of FDI of the similar month of last year. The highest investment was that of the Americans from Ford, who brought to Romania 208 million euros in Jan. High sums were invested in Brasov, center of Romania, by the Germans from Schaeffler (almost 50 million euros), which have been producing car components, and by the Swiss maker of drugs Roche (37.74 million euros).

More than one third of the investment (36.2 percent) are intra-group credits, which confirms the assurances of the Central Bank, which has said that the parent banks will support their business in Romania. In addition, the foreigners re-invested this Jan profits worth 129.5 million euros, with the sum standing at 14.2 percent of the FDI.

 

Sursa: http://www.rompress.ro

Tags: euros million percent first month romania investment foreign car bnr

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