Romania Current Account Posts EUR285M Deficit In First Six Months

08.13.2015 By Bogdan Neagu

Romania's current account balance posted deficit of 285 million euros after the first six months, compared with EUR863 million in the same period of 2014, central bank data showed Thursday.

At the end of May, the current account had a deficit of EUR312 million.

The goods and services balance posted a surplus of EUR137 million in January-June, down from EUR363 million in the year-ago period. The primary income balance, which covers funds from investment and employment, posted deficit of EUR1.77 billion versus EUR1.97 billion in January-June 2014. The balance of transfers, or secondary income, posted surplus of EUR1.34 billion, almost double compared with EUR741 million in the first six months of last year.

Foreign direct investments were at EUR1.66 billion in the January-June period, up from EUR1.19 billion in the same interval of 2014.

Romania's total external debt was EUR90.8 billion at the end of June, down from EUR94.3 billion in December 2014. The medium and long-term debt stood at EUR70.6 billion, while the short-term debt was EUR20.2 billion.

Last year, the country’s current account deficit narrowed to EUR696 million, from EUR1.17 billion in 2013.