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de Adrian N Ionescu 23.4.2017
The balance-of-payments current account posted a surplus of EUR 204 million in the first two months of the year, compared to a deficit of EUR 139 million in January-February 2016, according to the data published on Thursday by the National Bank of Romania (BNR).
On the other hand, total external debt increased by EUR 376 million to EUR 92.75 billion in January-February interval, mainly due to the increase of the non-publicly guaranteed debt balance (by EUR 722 million), along with the decrease in the balance of government debt (by EUR 348 million).
“By structure, the trade in goods recorded a deficit higher by EUR 243 million, the balance of services and secondary income ended with surpluses lower by EUR 90 million and EUR 50 million respectively, while the balance on primary income swung into surplus”, says the BNR press release.
Balance-of-payments current account (EUR million)
Non-residents’ direct investment in Romania totalled EUR 655 million, of which equity (including estimated net reinvestment of earnings) amounted to EUR 834 million and intercompany lending recorded a net negative value of EUR 179 million.
Long-term external debt amounted to EUR 68.495 billion at 28 February 2017 (73.9 percent of total external debt), down 0.7 percent from the level reported at 31 December 2016.
At the same time, short-term external debt at 28 February 2017 amounted to EUR 24.258 billion (26.1% of total external debt), up 3.7 percent against 31 December 2016.
Between January – February 2017, total external debt increased by EUR 376 million, while the public debt decreased (by EUR 348 million)
Romania’s external debt and external debt service (EUR million)
At the same time, long-term external debt service ratio ran at 17.8% in January – February 2017 against 27.4% in 2016. At 28 February 2017, goods and services import coverage stood at 6.5 months, compared to 6.3 months at 31 December 2016.
The ratio of the National Bank of Romania’s foreign exchange reserves to the short-term external debt by remaining maturity was 87.7 percent on 28 February 2017, against 90.1% at 31 December 2016.