Jan – April 2010 current account deficit up 40.3 pct

Romania’s Jan – April 2010 current account deficit was 2.06 bln euros, up 40.3 percent from the same period of 2009, the National Bank of Romania (BNR) informed.
Current transfers that fell 61.2 percent year on year had the key influence on the widening of the deficit.

Non-residents’ direct investments in Romania worth 1.135 million euros (as compared with 1,796 million euros Jan-April 2009) covered 55.1 percent of the current account deficit. Out of the total figure, equity stakes (including reinvested profit) amounted to 975 million euros (as compared with 1.088 million euros January-April 2009) and intra-group loans stood at 160 million euros (as compared with 708 million euros).

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The medium- and long-term external debt at end-April 2010 stood at 70,474 million euros (81.4 percent of total external debt), 7.4 percent above the level recorded on December 31, 2009. On April 30, 2010, the short-term external debt totaled 16,116 billion euros (18.6 percent of total external debt), up 10.4 percent from end-2009.
The medium- and long-term external debt service ratio ran at 33.1 percent over Jan – April 2010, a level similar to that registered in 2009. At end-April 2010, the ratio of imports coverage stood at 9.6 months versus 8.6 months on December 31, 2009.

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