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Current account deficit 15.99 bln euros at Nov 30

In January-November 2008, the balance-of-payments current account posted a deficit of EUR 15,995 million, 7.8 percent higher compared to January-November 2007, due largely to the wider trade deficit (EUR 16,913 million), up 6.0 percent from the same period of last year, the central bank BNR announced on Thursday.

Export growth outpaced import growth by 3.7 percentage points January through November 2008.

Foreign direct investment worth EUR 8,645 million covered 54.0 percent of the current account deficit in January-November 2008. Equity stakes and reinvested earnings accounted for 51.3 percent of the total figure, with intra-group loans making up 48.7 percent.

Medium- and long-term external debt at end-November 2008 added 29.2 percent against end-2007 to EUR 49,718 million.

Public and publicly guaranteed external debt at end-November 2008 totalled EUR 10,783 million, accounting for 21.7 percent of medium- and long-term external debt, compared with 26.5 percent at end-2007. Non-publicly guaranteed external debt came in at EUR 33,063 million at end-November 2008, rising 32.0 percent from year-end 2007.

Medium- and long-term external debt service ratio ran at 25.4 percent in January-November 2008, compared to 23.2 percent in 2007. At end-November 2008, goods and services import cover stood at 5.8 months versus 6.1 months at year-end 2007.

 

Sursa: http://www.rompress.ro

Tags: percent november deficit million external current account january bnr