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December 1, 2020

BNR: Current account deficit dropped by 86.5 pc in January

In January 2011 the balance-of-payments’ current account posted a deficit of EUR 15 million, 86.5 percent lower than in January 2010, due to the trade deficit turning into a surplus, according to data released by the National Bank of Romania (BNR). The trade balance posted a surplus of EUR 91 M, but the positive evolution was unsettled by services, which experienced a decline of EUR 105 M year-on-year. The increase of current transfers by EUR 208 M more than compensated a drop of incomes by EUR 209 M.

The current account deficit was integrally covered by foreign direct investments (FDI), which stood at EUR 240 M (against EUR 31 M in January 2010), made of intra-group loans worth EUR 272 M, and participations to consolidated capital that registered a net loss estimated at EUR 32 M.

Last year, FDI amounted to EUR 2.596 bln, down 25.57 pc from 2009, when they had reached EUR 3.488 bln. The bulk of FDI was represented by contributions to the capital of companies (EUR 2.04 bln), with the remaining EUR 556 M being intra-group loans.

The medium and long-term debt at January 31 stood at EUR 72.9 bln (79.2 pc of the total foreign debt), up 1.2 pc from the end of last year.

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