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Romania’s Current Account Deficit Shrinks To EUR634M In First Quarter

Romania registered a current account deficit of EUR634 million in the first quarter this year, some 2.5 times lower than in the same interval of the previous year, but 14 times higher than EUR44 million in January-February this year, central bank data showed Monday.
Romania's Current Account Deficit Shrinks To EUR634M In First Quarter
Andrei CîrchelanOana Gavrila
16 mai 2011, 12:05, English

The trade balance posted a deficit of EUR455 million, from EUR1.287 billion in January-March 2010. Moreover, the current transfers surplus rose to EUR729 million in the first two months from EUR434 million in the same period a year earlier.

The current account deficit was 59.8% covered by foreign direct investment, namely EUR379 million.

Romania’s total external debt reached EUR91.8 billion at the end of February, up from EUR90.8 billion in December 2010, according to central bank data.

The medium and long-term debt stood at EUR74.3 billion, from EUR72.1 billion at the end of 2010. The short-term debt was at EUR19.126 billion, from EUR18.7 billion in December last year.