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March 22, 2023

Current account deficit down 73 pc, foreign investments fall dramatically

The January current account deficit was of EUR 37 M, down 73.4 pc year-on-year, mostly on account of current transfer surplus and a lower revenue deficit, Mediafax quoted the National Bank of Romania (BNR) as announcing.The current account deficit in January was financed in proportion of 62.2 pc by direct investments of non-residents in Romania, which totalled 23 M euro, from 376 M euro in January of last year. The medium and long term debt on Jan 31 amounted to EUR 75.143 bln, 77.2 pc of the entire foreign debt, down 0.6 pc from Dec 31, 2011. The short term debt on Jan 31, 2012 reached EUR 22.202 bln, 22.8 pc of the overall foreign debt, down 3.4 pc against Dec 31, 2011. At the end of 2011, the current account deficit totalled EUR 5.68 bln, up 3 pc from 2010.

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