External debt up EUR 4.314 billion in January, current account deficit up by 78.7%

The total external debt increased, in January 2024, by 4.314 billion euros, up to 173.126 billion euros, and the current account deficit grew by 78.7%, to 1.358 billion euros, the National Bank of Romania informs on Friday through a press release.

"The current account of the balance of payments recorded a deficit of 1,358 million euros, compared to 760 million euros in January 2023. In its structure, the balance of goods recorded a deficit smaller by 229 million euros, the balance of services recorded a smaller surplus by 351 million euros, the primary income balance recorded a deficit of 376 million euros compared to a surplus of 27 million euros in January 2023, and the balance of secondary incomes recorded a smaller surplus by 72 million euros," the press release reads.

According to the source, with regard to external debt, the long-term debt amounted to 125.244 billion euros on January 31, 2024 (72.3% of the total external debt), up by 3.4% compared to December 31, 2023, and the debt in the short term reached the level of 47.882 billion euros (27.7% of the total external debt), increasing by 0.5%.

The long-term external debt service rate was 11.2% in January 2024, compared to 17.4% in 2023.

The degree of coverage of imports of goods and services on January 31, 2024 was 6.3 months, compared to 5.6 months on December 31, 2023.

The degree of coverage of the short-term external debt, calculated at the residual value, with foreign exchange reserves at the BNR on January 31, 2024 was 99.9%, compared to 97.4% on December 31, 2023.

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