At the end of 2015, the balance-of-payments current account posted a deficit of EUR 1,758 million, up by 156 percent as compared with EUR 686 million in 2014, amid the widening of the primary income and goods deficits (by EUR 1,830 million and EUR 1,430 million, respectively), which were partially offset by the increase in secondary income and services surpluses (by EUR 1,187 million and EUR 1,001 million, respectively), National Bank of Romania (BNR) states on Friday in a press release.
At the same time, non-residents’ direct investment in Romania (estimates) totalled EUR 3,035 million (as compared with EUR 2,421 million in 2014), of which equity (including estimated net reinvestment of earnings) amounted to EUR 3,340 million (as compared to EUR 2,846 million), this meaning the highest level in the last 6 years. Also, the intercompany lending recorded a net negative value of EUR 305 million (as compared to EUR 425 million).
Long-term external debt stood at EUR 71,056 million (78.2 percent of total external debt) last year, down 6.3 percent from end-2014, while short-term external debt at end-2015 amounted to EUR 19,840 million (21.8 percent of total external debt), up 4.9 percent from end-2014.
In the period under review, the total external debt declined by EUR 3,848 million, of which public debt by EUR 1,197 million, the monetary authority’s debt by EUR 1,038 million and non-publicly guaranteed debt by EUR 1,613 million.
Long-term external debt service ratio ran at 35.4 percent in January-December 2015 against 38.5 percent in 2014. At end-2015, goods and services import cover stood at 6.4 months, as compared with 6.8 months at end-2014.
Last year, the ratio of the BNR’s foreign exchange reserves to short-term external debt by remaining maturity stood at 98 percent, as compared with 88.9 percent at end-2014.