Balance of payments posts 9.4 bln euros in deficit at end-July

The current account of the balance of payments posted 9.4 billion euros in deficit over Jan.- July of this year, the National Bank announced on September 12.

The decisive influence on the current account balance was exerted by the trade balance gap, which totaled 10.190 billion euros, up by 9.3% from last Jan.-July.The dynamic of the exports was by 3.3% higher than the dynamic of imports in the first 7 months.
The current account deficit posted Jan. through July was 61.4% covered by foreign direct investments that totaled 57.69 billion euros, with the capital shareholdings and re-invested profit accounting for 55% of it and the intra-group loans for the remainder 45%.
The Romanian medium and long-term foreign debt amounted to 45.36 billion euros on July 31, up by 17.8% on end-2007.The foreign public and publicly guaranteed debt recorded a balance of 10.43 billion euros at end-July and accounted for 23% o f the foreign medium- and long-term debt (this compares to 26.6% at end-Dec. 2007). The foreign non-publicly guaranteed debt totaled 29.12 billion euros at end-July, up by 16.4% from Dec. 31, 2007.The foreign medium and long-term debt service rate was 23.9% Jan. through July compared to 21.8% last year.
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