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Current account deficit widens by 38.5pct nine months into 2018

 Romania's balance-of-payments current account recorded a deficit of 6.619 billion euro in the first nine months of 2018, by 38.5pct higher than in the similar period of 2017, shows a release of the National Bank of Romania (BNR) issued on Tuesday.

Between January and September 2017, the current account deficit amounted to 4.779 billion euro. 

According to the BNR, the balance of goods in structure recorded a deficit by 1.492 billion euro higher, the balance of services recorded a surplus down 190 million euro, the balance of primary revenues decreased by 124 million euro and the balance of secondary revenues - a surplus by 282 million euro lower. 

Between January and September 2018, the total foreign debt increased by 634 million euro. The long-term foreign debt in structure totaled 68.129 billion euro on 30 September, 2018 (69.5pct of the total foreign debt), down 0.6pct from 31 December 2017. The short-term foreign debt on 30 September, 2018 stood at 29.866 billion euro (30.5pct of total foreign debt), up 3.6pct from 31 December, 2017.

The long-term foreign debt service rate was 20.8pct between January and September 2018, compared to 25pct in 2017. The coverage degree of imports of goods and services on 30 September, 2018 was 4.7 months, as compared to 5.4 months on 31 December 2017. The short-term foreign debt coverage degree, calculated at the residual value, with the foreign exchange reserves at the BNR on 30 September 2018 was 72.6pct, compared to 79pct at 31 December 2017.