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Balance-of-payments current account posts deficit of up to 23.5% in first 11 months of 2010

In the first 11 months of 2010, the balance-of-payments current account posted a deficit of 5,173 million euros, 23.5 percent higher than in the same period of 2009, Romania's National Bank (BNR) informs.

The balance-of-payments current account was due to the increase year on year in services and income negative balances and the drop in current transfers surplus.

The current account deficit over Jan. - Nov. 2010 was financed in a proportion of 43.9 percent through non-residents' direct investments in Romania worth 2,269 million euros (as compared with 3,049 million euros over Jan.-Nov. 2009) and out of the total figure equity stakes amounted to 1,419 billion euros and intra-group loans 850 million euros.

The medium- and long-term external debt on November 30, 2010 stood at 72,239 million euros (79.8 percent of the total external debt), 10.0 percent above the level recorded on December 31, 2009.

The short-term external debt at end-November 2010 totalled 18,316 million euros (20.2 percent of the total external debt), up 18.9 percent from December 31, 2009.

The medium- and long-term external debt service ratio stood at 30.8 percent in the Jan. - Nov., 2010 period, compared to 33.9 percent in 2009.

Goods and services import cover stood at 8.7 months on Nov. 30, 2010, as compared with 8.5 months on Dec. 31, 2009.

Sursa: http://www.agerpres.ro

Tags: euros percent current external million months payments balance account deficit bnr

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