Loading ...The main influence upon the reduction of the current account balance was played by a shrinking trade deficit, amounting at 5.414 billion euros, a reduction of 66.9 percent from the period Jan. – Oct. 2008.
The current account deficit in the period Jan. through Oct. 2009 was financed in a proportion of 94.1 percent through direct investments of non-residents in Romania, in the amount of 3.720 billion euros (compared to 7.667 billion euros in the period Jan. – Oct. 2008), of which participations to the share capital (including the re-invested profit) amounted at 1.946 billion euros (compared to 4.480 billion euros), and the intra-group loans 1.774 billion euros (compared to 3.187 billion euros).
Medium and long-term external debt stood on Oct. 31, 2009 at the level of 62.904 billion euros (80.7 percent of the total external debt), up 22.3 percent from Dec. 31, 2008 and the short term one reached on Oct. 31, 2009 the level of 14.996 billion euros (19.3 percent of the total external debt), a drop of 27.2 percent from Dec. 31, 2008.
According to BNR, medium and long-term external debt service ratio ran at 27.9 percent in the first ten months of 2009, compared to 31.5 percent in 2008. At end-October 2009, goods and services import cover stood at 8.7 months versus 5.6 months at year-end 2008.
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