18 Mai 2010
Romanias Q1 current account deficit swells 65.5%
Romania’s balance-of-payments current account posted a deficit of €1.506 billion in the three-month period ending March 31, on sharp decline in year-on-year current transfer surplus.
In the first quarter 2009, the current account deficit stood at €910 million.
“The current account deficit was 50.1% covered from non-residents’ direct investment in Romania worth €754 million (compared with €1 475 million in the year-ago period), of which equity stakes (including reinvested earnings) amounted to €650 million (compared to €993 million a year earlier), and intra-group loans to €104 million (compared to €482 million a year earlier)”, NBR said.
The country’s medium- and long-term external debt at end-March stood at €70,157 million (81.5% of total external debt), 6.9% above year-ago level.
Short-term external debt in the first quarter totaled €15,877 million (18.5% of total external debt), up 8.8% from end-2009.
“The current account deficit was 50.1% covered from non-residents’ direct investment in Romania worth €754 million (compared with €1 475 million in the year-ago period), of which equity stakes (including reinvested earnings) amounted to €650 million (compared to €993 million a year earlier), and intra-group loans to €104 million (compared to €482 million a year earlier)”, NBR said.
The country’s medium- and long-term external debt at end-March stood at €70,157 million (81.5% of total external debt), 6.9% above year-ago level.
Short-term external debt in the first quarter totaled €15,877 million (18.5% of total external debt), up 8.8% from end-2009.