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Current account deficit up to 14.437 bln euro, in first 10 months

Romania's current account deficit hit 14.437 billion euros in the first ten months of the year, 10.9 pct higher than in the similar period of last year, Romania's National Bank (BNR) announced in a release on Friday.

The trade balance deficit, that registered 15.485 bln euro in the aforementioned period - up 10.2 pct from the period January-October 2007, when the exports overtook by 3.1 percentage points the imports - had the decisive influence on the current account.

The current account deficit in the first 10 months was financed to an extent of 56.5 pct from direct foreign investments that attained 8.157 bln euro, of which capital participation and reinvested profits accounted for 51.3 pct and intra-group loans - 48.7 pct.

On October 31, 2008 the external debt on the medium and long term stood at 49.097 bln euro, up 27.7 pct from December 31, 2007.

The foreign public and publicly guaranteed debt totaled 10.748 bln euro, accounting for 21.9 pct of the external debt on the medium and long term (as to 26.5 pct on December 31, 2007). The non-guaranteed external debt hit a total of 32.413 bln euro, 29.5 pct higher than at last year-end.The service of the medium and long-term foreign debt stood at 26 pct in the first ten months, as to 23.2 pct in 2007. The coverage degree was 5.7 months of imports on October 31 from 6.1 months of imports on December 31, 2007.

 

Sursa: http://www.rompress.ro

Tags: months euro account deficit first current bnr

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