The current account deficit of the balance of payments increased 2.5 times against the previous year, from EUR 686 million to EUR 1.758 billion, about 1.1% of GDP, ziare.com reports quoting a BNR release.
The central bank data reveal the two-fold increase of the trade balance deficit and of the primary incomes deficit, but also an increase by 70% of the secondary incomes.
Actually, the negative balance of EUR 3.7 billion, about 2.4% of GDP, comes mainly from the amounts Romania extracted for previous economic and financial investments.
Non-government loans down by 0.7% in January
At end-January 2016, non-government loans granted by credit institutions decreased by 0.7 percent (up 0.1 percent in real terms) from December 2015 to RON 216,112.2 million. RON-denominated loans declined by 0.3 percent (up 0.5 percent in real terms), whereas foreign currency-denominated loans shrank 1.1 percent when expressed in RON and 1.3 percent when expressed in EUR. At end-January 2016, non-government loans added 2.8 percent (5.0 percent in real terms) year on year, on the back of the 20.1 percent increase in RON-denominated loans (22.7 percent in real terms) and the 10.6 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 12.4 percent), BNR informs.
Government credit contracted by 1.1 percent month on month to RON 88,647.0 million. At end- January 2016, government credit increased by 2.1 percent (4.3 percent in real terms) from the same year-ago period.
RON-denominated household deposits added 1.4 percent to RON 93,002.9 million. At end-January 2016, household deposits in domestic currency rose by 6.8 percent (9.1 percent in real terms) against end-January 2015.
RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) decreased by 5.8 percent to RON 75,035.1 million. At end-January 2016, RON-denominated corporate deposits climbed by 15.0 percent (17.5 percent in real terms) year on year.
Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) edged up 0.4 percent to RON 82,455.5 million when expressed in domestic currency (when expressed in EUR, forex deposits inched up 0.2 percent to EUR 18,187.2 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 5.8 percent (when expressed in EUR, residents’ forex deposits rose by 3.7 percent); household forex deposits grew by 6.2 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 4.1 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) went up 5.0 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 2.9 percent higher).