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Current account deficit drops to 1.3 billion euros in first 11 months of 2013


The current account of the balance of payments over January-November 2013 registered a deficit amounting to 1.32 billion euros from 5.39 billion euros in the same time span of 2012, reads a release the National Bank of Romania (BNR) sent on Friday.

The diminution of the current account deficit relied on the diminution of the balance of trade deficit by 3.57 billion euros, on the surplus registered by the balance of services, 1.5 billion euros, and by the balance of current transfers, 151 million euros.

The direct investments made by the nonresidents in Romania totalled 2.4 billion euros over January-November 2013 (up by 22.3 percent from January-November 2012), of which consolidated capital participations with the estimated net loss amounted to 1.35 billion euros.

The medium and long-term foreign debt amounted to almost 78 billion euros on November 30, 2013 (80.1 percent of the total foreign debt), down by 1 percent from December 31, 2012, reads the BNR release.

The short-term foreign debt was 19.3 billion euros (19.9 percent of the total foreign debt) on November 30, 2013, down by 7.6 percent from the end of 2012.

According to the BNR data, the service rate of the medium and long-term foreign debt was 41.2 percent in January-November 2013 from 34.9 percent in 2012.