AcasăEurope NewsCurrent account deficit up almost 30pct, to EUR 17,858 million

Current account deficit up almost 30pct, to EUR 17,858 million

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In January – August 2024, the balance-of-payments current account posted a deficit of EUR 17,858 million, compared with EUR 13,830 million in January – August 2023, the National Bank of Romania (BNR) informs in a press release on Monday.

The breakdown shows that the deficit on trade in goods widened by EUR 2,634 million, the surplus on services fell by EUR 863 million, the primary income deficit increased by EUR 979 million, while the secondary income surplus grew by EUR 448 million.

Non-residents’ direct investments in Romania totalled EUR 4,139 million (compared with EUR 4,382 million in January – August 2023), of which equity (including the estimated reinvestment of earnings) and intercompany lending recorded net values of EUR 3,563 million and EUR 576 million, respectively.

In January – August 2024, total external debt increased by EUR 14,189 million to EUR 182,524 million, of which: long-term external debt at end-August 2024 ran at EUR 133,389 million (73.1 percent of total external debt), up 9.2 percent against end-2023; short-term external debt at end-August 2024 amounted to EUR 49,135 million (26.9 percent of total external debt), up 6.3 percent from end-2023.

Long-term external debt service ratio stood at 13.8 percent in August 2024 against 18 percent in 2023. At end-August 2024, goods and services import cover ran at 5.9 months, as compared to 5.6 months at end-2023.

At end-August 2024, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 101.1 percent, as against 99.7 percent at end-2023, the central bank points out.

AGERPRES

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