The balance-of-payments current account posted a deficit of EUR 2,661 million in the first nine months of this year, up by 142 percent, compared with EUR 1,099 million in January – September 2015, National Bank of Romania (BNR) data reveal on Monday
At the same time, the goods balance and primary income balance recorded higher deficits, by EUR 1,369 million and EUR 844 million respectively, while the surplus on services balance and that on secondary income widened by EUR 639 million and EUR 12 million, respectively.
Non-residents’ direct investment in Romania totalled EUR 3,143 million, of which equity (including estimated net reinvestment of earnings) amounted to EUR 2,750 million and intercompany lending recorded a net value of EUR 393 million.
Long-term external debt at end-September 2016 stood at EUR 70,172 million (77.4 percent of total external debt), down 0.5 percent from the level reported at end-2015.
Short-term external debt amounted to EUR 20,505 million (22.6 percent of total external debt), up 3.2 percent against end-2015.
In the period under review, total external debt increased by EUR 243 million, of which the public debt increased by EUR 1,178 million, while the non-publicly guaranteed debt and the monetary authority’s debt declined by EUR 608 million and EUR 327 million, respectively.
Long-term external debt service ratio ran at 26.3 percent in January-September 2016 against 38.5 percent in 2015. At end-September 2016, goods and services import cover stayed flat from end-2015 at 6.4 months.
At end-September, the ratio of BNR’s foreign exchange reserves to short-term external debt by remaining maturity came in at 94.2 percent, against 97.9 percent at end-2015.