The current account deficit rose to EUR 15.2 billion in the first seven months of the year, 34% above the level of last year’s same period, according to data published on Friday by the National Bank of Romania (NBR).
”Considering its structure, the balance of goods recorded an EUR 2.5 billion higher deficit, the balance of services recorded an EUR 1.3 billion lower surplus, the balance of primary revenues recorded a greater deficit by EUR 538 million, while the balance of secondary revenues recorded a higher surplus by EUR 522 million”, reports the National Bank.
Several changes can be noted in terms of services, namely the decrease in the surplus produced by transport, as well as by telecom and IT, while the deficit produced by tourism rose by nearly half a billion euros compared to the first seven months of 2023.
Foreign investments, down 27.1%
Direct investments by non-residents in Romania amounted to EUR 3.12 billion, 27.1% below the level of the January-July 2023 interval, of which equity investments (including the estimated reinvested profit) reached the net value of EUR 2.7 billion, while intragroup loans recorded a net value of EUR 434 million.
Between January and July 2024, the total external debt went up EU 10.25 billion, reaching EUR 180.3 billion.
The structure:
- long-term external debt reached EUR 131.85 billion on July 31st, 2024 (73.1% of the total external debt), up 8.3% compared to December 31st, 2023;
- short-term external debt reached EUR 48.48 billion on July 31st, 2024, (26.9% of the total external debt), up 0.3% compared to December 31st, 2023.
The long-term external debt service ratio stood at 16.4% in July, 2024, compared to 16.7% in 2023.
The coverage ratio of goods and services imports on July 31st, 2024, was 5.9 months, compared to 5.6 months, on December 31st, 2023. The short-term external debt coverage ratio, calculated at salvage value, with NBR foreign exchange reserves, stood at 103.8% on July 31, 2024, compared to 96.3% on December 31st, 2023.
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