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Romania's current account deficit down at 2.61 bln euros in Jan-Feb
In January - February 2023p, the balance-of-payments current account posted a deficit of EUR 2,614 million, compared with EUR 3,155 million in the same year-ago period, the National Bank of Romania (BNR) informs.
. The breakdown shows that the deficit on trade in goods declined by EUR 130 million, the surplus on services expanded by EUR 641 million, the primary income deficit grew by EUR 206 million, while the secondary income surplus narrowed by EUR 24 million.
Non-residents’ direct investmente in Romania totalled EUR 1,980 million (compared with EUR 1,903 million in January - February 2022), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 1,575 million and EUR 405 million, respectively.
In January - February 2023, total external debt increased by EUR 9,874 million, of which:
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long-term external debt at end-February 2023 ran at EUR 106,575 million (69 percent of total external debt), up 9.1 percent against end-2022;
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short-term external debt at end-February 2023 amounted to EUR 47,860 million (31 percent of total external debt), up 2.2 percent from end-2022.
Long-term external debt service ratio stood at 13.1 percent in January - February 2023 against 16.2 percent in 2022. At end-February 2023, goods and services import cover stood at 5.2 months, as compared to 4.4 months at end-2022.
At end-February 2023, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 88.8 percent, as against 80.2 percent at end-2022.