In January – August 2017, Romania’s total external debt increased by EUR 1,167 million, of which the long-term external debt at end-August stood at EUR 69,527 million (73.9 percent of total external debt), down 0.2 percent yoy.
At the same time, the short-term external debt at end-August amounted to EUR 24,550 million (26.1 percent of total external debt), up 5.5 percent against end-2016, National Bank of Romania (BNR) informs in a press release.
Long-term external debt service ratio ran at 21.1 percent in the first eight months against 30 percent in 2016. At end-August 2017, goods and services import cover stood at 5,9 months, as compared to 6.3 months at end-2016
At end-August 2017, the ratio of the BNR’s foreign exchange reserves to short-term external debt by remaining maturity came in at 86.2 percent, against 90.5 percent at end-2016.
According to the central bank estimates, non-residents’ direct investment in Romania totalled EUR 2,518 million (compared with EUR 3,092 million in January – August 2016), of which equity (including estimated net reinvestment of earnings) amounted to EUR 2,804 million and intercompany lending recorded a net negative value of EUR 286 million.
Not least, in this year’s January – August period, the balance-of-payments current account posted a deficit of EUR 4,043 million, compared with EUR 2,653 million in January – August 2016. The deficit on trade in goods widened by EUR 1,433 million, the surplus on services increased by EUR 146 million, the primary income deficit narrowed by EUR 113 million, while the surplus on secondary income contracted by EUR 216 million.