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Current account deficit up 7.5 pct over first four months

Romania's current account deficit hit 4.842 billion euros over Jan-April, by 7.5 pct more than in the similar period of 2007, when it stood at 4.504 bln euro, reveals data published on Monday by the National Bank of Romania (BNR).

The trade balance deficit, that registered 5.544 bln euro in the aforementioned period - up 14 pct from the first four months of 2007 - had the decisive influence on the current account. The current account deficit was financed to an extent of 66.5 pct from direct foreign investments that attained 3.218 bln euro, of which capital participation and reinvested profits were 70 pct and intra-group loans - 30 pct. On April 30, 2008 the external debt on the medium and long term was 41.754 bln euro, up 8.4 pct from December 31, 2007. The foreign public and publicly secured debt totaled 10.421 bln euro, accounting for 25 pct of the external debt on the medium and long term (as to 27 pct on December 31, 2007). On April 30, 2008 the external debt with no public security hit a total of 26.741 bln euro, by 7.5 pct more than on December 31, 2007. The service rate of the medium and long-term foreign debt was 15.9 pct over January - April 2008, as to 21.8 pct in 2007. The coverage degree was 5.6 months of imports at the end of April, as to six months of imports on December 31, 2007. Sursa: http://www.rompress.ro

Tags: april euro current months deficit account bnr

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