The balance-of-payments current account posted a deficit of EUR 5,302 million in the first ten months of 2017, up by 87 percent compared with EUR 2,835 million the same period last year, National Bank of Romania (BNR) informs.
The deficit on trade in goods and that on primary income widened by EUR 2,033 million and EUR 296 million respectively, the surplus on secondary income contracted by EUR 274 million while the surplus on services increased by EUR 136 million.
In January – October 2017, total external debt increased by EUR 1,391 million, of which: long-term external debt at end-October 2017 stood at EUR 69,559 million (73.8 percent of total external debt), down 0.1 percent from end-2016; short-term external debt at end-October 2017 amounted to EUR 24,742 million (26.2 percent of total external debt), up 6.3 percent against end-2016.
Long-term external debt service ratio ran at 22.0 percent in January – October 2017 against 30.0 percent in 2016. At end-October 2017, goods and services import cover stood at 5.6 months, as compared to 6.3 months at end-2016.
At end-October 2017, the ratio of the central bank’s foreign exchange reserves to short-term external debt by remaining maturity came in at 88.5 percent, against 90.5 percent at end-2016.