Loading ...The current account of the balance of payments registered a deficit worth 2.449 billion euros in the first eight months of the year, by 78.6 percent less than during the same time span in 2008, Romania’s Central Bank (BNR) reports.
The trade balance deficit amounting to 3.923 billion euros over Jan.-Aug. 2009, by 69.6 percent lower on the same period in 2008, decisively influenced the decrease in the balance current account.
The current account deficit over Jan.-Aug. 2009 was fully financed through the direct investments by the non-residents of Romania and it scored 3.154 million euros, compared to 6.725 billion euros in the first eight months of 2008, out of which the intra-group credits grossed 1.69 billion euros, compared to 2.992 billion euros and the capital investments, the reinvested profit included, totaled 1.464 billion euros (down from 3.733 billion euros).
The medium- and the long-term foreign debt registered 60.068 billion euros on this Aug. 31, namely 78.1 percent of the total foreign debt, by 17.3 percent higher than at end-Dec. 2008, while the short-term foreign debt amounted to 16.65 billion euros, namely 21.9 percent of the total foreign debt, by 24.1 percent lower on end-2008.
The medium- and the long-term foreign debt service rate stood at 28.2 percent over Jan. 1-Aug. 31, compared to 29.3 percent in 2008, The coverage degree was 8.8 months worth of imports of goods and services on Aug. 31, 2009, up from 5.7 months on Dec. 31, 2008.
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