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Current account deficit drops by 21pct in first four months of 2020

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The current account of the balance of payments registered a deficit of 1.782 billion euros in the first four months of 2020, down 21.08pct compared to the similar period of 2019, of 2.258 billion euros, the National Bank of Romania (BNR) says in a release sent on Monday .

In structure, the goods balance recorded a larger deficit of 880 million euros, the services balance recorded a larger surplus of 465 million euros, the primary income balance recorded a larger surplus of 427 million euros, and the secondary income balance recorded a larger surplus of 464 million euros. 

From January to April 2020, total external debt increased by 683 million euros. In structure, the long-term external debt amounted to 73,276 billion euros at 30 April 2020 (68.8pct of total external debt), down 0.5pct from 31 December 2019. The short-term external debt was 33.280 billion euros (31.2pct of the total foreign debt) at 30 April 2020, an increase of 3.3pct compared to 31 December 2019.

The long-term foreign debt service ratio was 17.6pct between January and April 2020, compared to 18.6pct in 2019. The coverage of imports of goods and services at 30 April 2020 was 5.3 months, compared to 4.6 months on 31 December 2019.

The coverage of short-term foreign debt, calculated at residual value, with foreign reserves at BNR at 30 April 2020 was 72.1pct, compared to 73.8pct at 31 December 2019.

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